Apr 8, 2025 · Related development

Council approves COs for parks and vehicles; $15.435 million issued

After publishing notice of up to $17 million in COs for park and recreation facilities and vehicles and equipment for the solid waste, police, street and parks departments, the council took up the certificates on April 8, 2025. KFDA reported a unanimous vote. City financial reports record Series 2025 COs of $15,435,000 maturing through 2055.^[1]^[2]^[3]^[4]

Cole Stanley

What the sources say

✓ Verified
Section 271.049 requires the notice to state the meeting time and place, the purpose, how the certificates will be paid, the issuer's outstanding tax-supported debt principal and total principal and interest, the maximum principal of the certificates, their estimated principal and interest, the interest rate limit and the maximum maturity date.^[5]
✓ Verified
The City's notice set an April 8, 2025 meeting to consider up to $17,000,000 in certificates of obligation for park and recreation facilities and for vehicles and equipment for the solid waste, police, street and parks and recreation departments, payable from property taxes and a limited pledge of the waterworks and sewer system; it stated outstanding tax-supported principal of $188,553,000 and estimated principal and interest on the new certificates of $24,161,329, with a maximum maturity of September 30, 2055.^[1]
Max principal
$17,000,000
Outstanding tax supported
$188,553,000
Est principal and interest
$24,161,329
⚠ Sources differ
What the council approved on April 8, 2025.
Reported value 1[2]
Parks max
$17,000,000
Streets max
$12,500,000
Vote
unanimous
KFDA reported the council unanimously approved two certificates totaling nearly $30 million: up to $17 million for parks and up to $12.5 million for streets.
Reported value 2[1][6][3]
Parks max
$17,000,000
Streets vote date
2025-06-10
City notices set April 8, 2025 for the $17 million certificates and June 10, 2025 for the $12.5 million streets certificates; the ACFR records the streets series issued June 10, 2025.
✓ Verified
Mayor Cole Stanley: Mayor Cole Stanley said the certificates would not affect residents' tax rates because they were built into the budget the previous September, and said, "These roads are not going to get any less expensive."^[2]
⚠ Sources differ
Issued amount and date of the Series 2025 certificates.
Reported value 1[4][3]
Principal
$15,435,000
Date
2025-05-08
Debt schedule and ACFR statistical table: $15,435,000, issue date 5/8/2025, maturing 2055, 5.00% interest.
Reported value 2[3]
Principal
$15,453,000
Date
2025-02-15
ACFR Note 13 text: 'On February 15, 2025, the City issued $15,453,000 ...' for park and recreation facilities and vehicles and equipment.

Sources

1.Notice of Intention to Issue City of Amarillo, Texas Certificates of Obligation (April 8, 2025 meeting, not to exceed $17,000,000) — City of Amarillo, Feb 1, 2025 · retrieved Oct 9, 2026primarySubject-authoredPosted February 2025 (upload folder); signed by the City Secretary.
2.Amarillo City Council discuss nearly $30 million debt issuance for the city — KFDA NewsChannel 10, Apr 8, 2025 · retrieved Oct 9, 2026newsIndependentStance: neutral
3.City of Amarillo Annual Comprehensive Financial Report, fiscal year ended September 30, 2025 — City of Amarillo, Jun 4, 2026 · retrieved Oct 9, 2026primarySubject-authoredNote 13 (long-term obligations) describes each certificate-of-obligation series; Note 29 (subsequent events) records the Series 2026 and 2026A certificates, the Series 2026 PPFCOs and 2026 water-sewer revenue bonds. Issue dates differ in places between Note 13 and the statistical tables.
4.Schedule of Debt at September 30, 2025 (as required by Section 140.008, Texas Local Government Code) — City of Amarillo, Jul 1, 2026 · retrieved Oct 9, 2026primarySubject-authoredPosted July 2026 (upload folder); lists each series with authorized, issued, outstanding, spent and unspent amounts and purpose.
5.Texas Local Government Code, Chapter 271 (Subchapter C, Certificates of Obligation, incl. Secs. 271.047 and 271.049) — Texas Legislature, Oct 9, 2026 · retrieved Oct 9, 2026primaryIndependentCurrent statute text as posted by the Texas Legislative Council; no page publication date. Sections cited: 271.047(d) and 271.049.
6.Notice of Intention to Issue City of Amarillo, Texas Series 2025A Certificates of Obligation (June 10, 2025 meeting, not to exceed $12,500,000) — City of Amarillo, Apr 1, 2025 · retrieved Oct 9, 2026primarySubject-authoredPosted April 2025 (upload folder).