Council approved item G following a roll-call vote. The posted agenda identified item G as the ordinance authorizing the city’s 2026 combination tax and revenue certificates of obligation.
The city’s staff report described $9.6 million in certificates of obligation to finance the Coll Street drainage, roadway and underground-utility conversion project. The ordinance pledges the city’s ad valorem taxing power behind the debt, while staff says New Braunfels Economic Development Corporation sales-tax revenue will cover annual payments for Coll Street drainage, roadway and underground-utility work.
City staff said issuing the debt through New Braunfels lets the project use the city’s credit rating and lower borrowing costs. The ordinance also pledges no more than $1,000 in surplus solid-waste-system revenue as additional security; the intended annual payment source remains NBEDC sales-tax revenue.
From project approval to financing
Before the vote, the city said NBEDC had approved the project funding June 18, council had ratified the construction expenditure and contract July 13, and council had approved a notice of intent and reimbursement resolution July 27. An earlier Comal.News report explained the proposed financing before council’s final authorization vote.
The item page says the city published its notice of intent Aug. 5 and Aug. 12 and kept it on the city website for at least 45 days. The ordinance recites that the city had not received a valid voter petition protesting the certificates before passage.
One objection before the vote
A speaker opposed approving the debt item before council received a consolidated accounting of the associated public funding and obligations. The independently reviewed recording establishes the objection as public testimony, not the truth of any underlying assertion.
What happens next
The city’s schedule calls for state review and an October 28 closing, when proceeds would become available for construction. State review includes the Texas attorney general’s review and registration by the Texas comptroller before closing.
The executed financing documents will show the principal amount, winning bidder, interest rates, maturity schedule and total debt service. Readers can use File 26-1159 to follow the city’s record as those terms and the closing are posted.