Waxahachie council considered up to $69.3 million in certificates of obligation
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Waxahachie’s City Council was scheduled to consider authorizing up to $69.3 million in certificates of obligation at a 7 p.m. meeting on August 3, 2026, at the Waxahachie Civic Center, 2000 Civic Center Lane.
The city’s notice of intention described a proposed borrowing authorization, not a verified final issuance. The available records do not establish whether the council approved the certificates, changed the proposed amount or project list, or took no action.
What the proposed borrowing could cover
The notice lists a broad group of eligible municipal improvements. They include construction, renovation, improvement and equipment for existing municipal buildings, public-safety facilities and other city facilities, including facilities for emergency management, municipal court, utilities and the fire department.
The proposal also includes fire-department buildings and facilities, including the possible relocation of a fire station.
Transportation and drainage work identified in the notice includes streets, related sidewalks, cycle paths, signage and signalization, landscaping, streetscaping, drainage, utility-line relocations and the acquisition of land and rights-of-way.
The proposal further includes improvements and extensions to the city’s water and wastewater systems, along with related fiscal, engineering and legal costs.
Those categories overlap with areas identified in Waxahachie’s Capital Improvement Program, which lists roadway and drainage improvements, water-distribution systems and wastewater-collection systems among its capital-project categories. The notice does not establish that each listed project has been separately approved, funded or scheduled for construction.
Repayment would exceed the principal ceiling
The proposed certificates would have a maximum principal amount of $69.3 million. The city estimates combined principal and interest repayment of $103.305871 million over the life of the debt.
That estimated repayment figure is the projected total for the proposed certificates, not the amount the city would borrow upfront. The notice says the certificates could have a maximum maturity of 40 years and that the interest rate could not exceed the maximum legal interest rate.
For comparison, the notice lists Waxahachie’s existing outstanding principal debt at $250.78 million, with combined principal and interest of $337.212021 million required to repay that debt on time and in full.
Taxes and limited utility pledge described
The notice says repayment would come from city taxes and a limited pledge of surplus revenue from the municipal water and wastewater systems. The utility-revenue pledge would not exceed $1,000.
The proposal itself does not establish whether residents would face a tax-rate increase, whether water or wastewater rates would change, or what the borrowing could mean for individual household costs. Those questions would require additional financial records and final financing documents.
What residents should watch for next
The key follow-up records are the August 3 council agenda, minutes, meeting recording and any adopted resolution or related debt documents. Those records should show whether the council authorized the certificates and whether the amount, eligible uses or financing terms changed.
Until those records are available, the city’s notice supports reporting that Waxahachie was considering a major new borrowing authorization—not that the certificates were authorized, sold or issued.
Sources
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