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.