Yukon officials consider selling bonds to fund projects

The City of Yukon could move a little closer to selling $10 million in bonds to help finance a variety of road projects on Thursday when the city council meets for its regular meeting.

The meeting has been moved for its usual Tuesday night because of the Fourth of July holiday.

The meeting will begin at 7 p.m. in the council chambers of the Centennial Building. There will be a work session at 6 p.m., which also is open to the public.

Entering into an agreement with the Public Finance Law Group and Williams, Box, Forshee & Bullard for legal services related to the issuance of sales tax revenue note, series 2017 is among two items related to the issuances of bonds approved in June by the city council.

Also on the agenda is an engagement letter with BOK Financial Securities Inc. for advisory services on the issuance of new debt related to the bonds.

The bond money will help finance construction of the Frisco Interchange at Interstate 40, as well as the relocation of Vandament and work on State Highway 4. In addition, more than $1 million has been set aside for roadwork inside the city.

Officials have estimated that for the first several years, the cost to the city would be about $300,000 per year. By 2022, the repayment costs will increase. However, at the same time, other bond issues will begin to pay off.

The council also will consider an agreement with HBC CPAs to perform the city’s annual audits. The contract is for $26,400.

Also on the agenda are:

  • Consideration of a consent agenda that includes a variety of service agreements with local charities the city routinely assists;
  • Consideration of a final plat as submitted by Zaxby’s Restaurant. The restaurant is expected to be located on the western edge of West End Pointe in front of Lowe’s;
  • Consideration of a citizens’ participation plan as part of an application for a community development block grant. The money will be used for the installation and repair of infrastructure.

Leave a Comment