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Item # 6.a.

2025 City Council Regular Meeting

Meeting Date:

01/13/2026

Department:

City Manager

Key Focus Areas:

Financial Health and Organizational Excellence

AGENDA CAPTION:

Present, discuss, and consider action on an Ordinance authorizing the issuance of Town of Addison, Texas, Public Property Finance Contractual Obligations, Series 2026; in an approximate aggregate principal amount of $3,385,000; levying a tax in payment thereof; approving the sale thereof; approving the official statement; enacting other provisions relating to the subject; and declaring and effective date.

BACKGROUND:

At the July 1, 2025 City Council Work Session Meeting, staff presented the preliminary Fiscal Year 2026 Capital Improvement Plan including a proposed bond issuance of $3.5 million for Fire Department equipment to replace Quint 102 for $2 million and an Airport Rescue Fire Fighting apparatus (ARFF) replacement for $1.5 million. The purchase of the Quint 102 replacement was approved by Council at the October 14, 2025 City Council Meeting. A reimbursement Resolution in the amount of $2 million was approved at the October 28th, 2025 City Council Meeting. Staff also presented the plan again for the $3.5 million bond sale to be held later in the year.

Certain details concerning the Public Property Finance Contractual Obligations will not be known until competitive bids are received on January 13, 2026. This information will be made available for the January 13, 2026 City Council Meeting prior to the discussion of this item. The Ordinance will also be updated prior to the meeting. The Town of Addison maintained an underlying bond rating of "AAA" from Standard and Poor's and an "Aaa" from Moody's.

FISCAL IMPACT

The equipment purchases are included in the FY 2026 Budget. The ARFF replacement portion of the bond issuance is funded by the Airport Fund.

RECOMMENDATION

Administration recommends approval.

Attachments

Presentation - 2026 PPFCO and GO Refunding Bonds

Ordinance - 2026 PPF Contractual Obligations

Preliminary Official Statement - 2026 PPFCO & GO Refunding Bonds

Notice of Sale - 2026 PPFCO