· Peak
Council withdraws the $35 million certificates of obligation for City Hall
The council voted 4-1 on August 24, 2021 to repeal the resolution giving notice of intent to issue certificates of obligation for City Hall (reported by Texas Scorecard as $35 million). ABC7 later reported the City dropped that plan after the petition and lawsuit were filed.[1][2][3]
What the sources say
- ✓ Verified
On August 24, 2021 the council voted 4-1 to repeal Resolution 06-08-21-1, which had authorized notice of intent to issue certificates of obligation for City Hall; Councilmember Cole Stanley voted no. Texas Scorecard reported the certificates totaled $35 million.[1][2]
- Amount
- $35,000,000
- Vote for
- 4
- Vote against
- 1
- ✓ Verified
ABC7 reported that the City first planned to issue bonds for City Hall but dropped that plan after a businessman filed a petition and lawsuit.[3]
- ✓ Verified
No City statement giving the reason for withdrawing the certificates of obligation was found in fetched sources. Texas Scorecard attributed the withdrawal to the petition and pending litigation; ABC7 reported only the sequence (petition and lawsuit, then the plan was dropped). The site does not assert a cause.[2][3][4]
- ✓ Verified
Minutes of the August 24, 2021 council meeting record that the council voted 4-1 to repeal Resolution 06-08-21-1, the resolution authorizing publication of notice of intention to issue certificates of obligation; Mayor Ginger Nelson, Mayor Pro Tem Freda Powell and Councilmembers Eddy Sauer and Howard Smith voted yes, and Councilmember Cole Stanley voted no. The minutes record no stated reason. [1]