Council approved item O. The resolution covers three Veramendi district bond issues totaling up to $15.12 million.
The city staff report says the bonds are secured by property taxes paid by owners inside the three water-improvement districts and have no fiscal impact on New Braunfels. Item O covers WID 1A utility bonds and road bonds for WID 1D and WID 1F. The development agreement authorizes as much as $620 million in eligible district debt; after this package, approved master-district and subdistrict issuances would total $93.695 million.
The package’s three maximum principal amounts add to $15.12 million: $3.635 million for WID 1A utilities, $8 million for WID 1D roads and $3.485 million for WID 1F roads. The district materials list 2026 total tax rates of 79 cents per $100 of value in WID 1A and 85 cents in WID 1D and WID 1F; they project no rate change from these issues.
The exhibit anticipates an Oct. 20 sale for WID 1F and Nov. 17 sales for WID 1A and WID 1D. Final sizes may be lower, and the staff report says the Texas Commission on Environmental Quality provides final approval for water-district bond issues.
Comal.News previously explained the proposed debt, tax bases and projected rates before the vote. The next records to watch are the districts’ sale results and TCEQ approvals, which should establish the final principal, interest cost and repayment schedules.