The Killeen City Council will discuss new bonds for utility ratepayers, according to a five-year capital improvement program plan up for consideration today.
At a council workshop, the city will propose issuing two bonds to pay for water-sewer and drainage projects beginning in fiscal year 2020, according to a city PowerPoint presentation attached to the council’s online agenda.
Unlike roadway project debt, which is paid back through property tax revenue and must be approved by voters, the city’s two proposed debt issues will be “revenue bonds” — meaning they are paid back through utility fees and do not need voter approval.
While the presentation does not specifically list a total dollar amount for each bond, a spreadsheet shows around $9.2 million in estimated drainage projects through fiscal year 2023 and $14.75 million in water-sewer projects.
According to the City Charter, the council must draft a capital improvements program every five years to arrange for long-term funding. According to the city’s presentation, there are 138 citywide projects listed as “long-range unfunded” with a price tag of more than $879 million.
The workshop will follow the council’s regular meeting at 5 p.m. at City Hall, 101 N. College St.
The workshop will take place at the Utilities Collection Building, 210 W. Avenue C.