Frisco authorizes up to $182.9 million in voter‑approved general obligation bonds; includes public safety and streets projects

The Frisco City Council on Tuesday approved a parameters ordinance authorizing the issuance of general obligation (GO) bonds up to $182.9 million, including $121.1 million in voter‑approved new money and $61.8 million in refunding of earlier debt.

City staff said the new-money projects funded by the bonds include $39.8 million for public safety facilities and equipment, $53.3 million for streets and road improvements, and $28 million for a parks operations and logistics building. The refunding component would refinance 2015 series debt and is projected to produce a present‑value savings of approximately $2.3 million.

Staff presented standard issuance parameters: bonds not to exceed $182.9 million, true interest cost capped at 5 percent, 20‑year maximum maturity, and sale/issuance to occur within one year of the ordinance approval. Council unanimously adopted the ordinance.

The bonds will be repaid from the city’s debt‑service tax rate, per the staff presentation. The ordinance delegates authority to execute sale documents to designated city officials and requires rating and sale procedures consistent with city policy.

Staff will return with the final sale terms after market execution under the parameters set by the ordinance.