League City taxpayers would repay up to $280.6 million over 40 years if the City Council approves a $165.9 million debt package Tuesday, Aug. 25, to fund water and sewer upgrades, road improvements and a major park expansion.
The council will consider the Combination Tax and Revenue Certificates of Obligation, Series 2026, on first and final reading at its 6 p.m. meeting at Council Chambers, 200 W. Walker St. One vote could pass it.
What the money would fund
The city's notice of intent, signed June 23 by City Secretary Diana Stapp, identifies three spending categories:
- Water and sewer: Acquisition, repair, construction and improvement of the city's waterworks and sewer system.
- Thoroughfares: Improvements to League City Parkway and Maple Leaf Drive, including right-of-way acquisition, detention and project costs.
- Pat Hallisey Park: Expansion including a softball complex, little league baseball complex, international-sized soccer fields, tennis and pickleball courts, trails, playgrounds, parking, lighting and a maintenance facility.
The notice does not break down how the $165.9 million is allocated among the three categories.
What it costs
At an assumed 4.5% interest rate, the city estimates combined principal and interest payments of $280,603,125 over the life of the certificates. The city cautioned in its notice that market conditions could push the actual rate higher or lower.
The debt would be repaid through annual property taxes levied on all taxable property in League City, plus a subordinate lien on net revenues from the water and sewer system.
As of June 23, the city's outstanding tax-supported debt stood at $108.2 million, with $134.2 million in combined principal and interest remaining on those existing obligations.
As we reported Friday, the city holds top credit ratings heading into the vote.
How it got here
Councilmember Tommy Cones made the motion to publish the notice of intent at the June 23 meeting, seconded by Councilmember Chad Tressler. The resolution passed, setting Tuesday's vote in motion. No individual council members have publicly stated their positions on the final ordinance ahead of the Aug. 25 meeting.
The vote comes roughly 10 weeks before the city's Nov. 3 general election.
The Aug. 25 agenda also includes a separate vote on General Obligation Improvement Bonds (item 10B) and the public hearing and adoption vote on the FY2027 budget, which proposes a tax rate of $0.356505 per $100 valuation, down from the current rate of $0.36355.
How to weigh in
Residents can attend the meeting in person at 200 W. Walker St. or watch live on the city's Facebook page. Those wishing to speak during public comment must sign up on the sheet outside council chambers before the meeting begins. Replays air daily on Channel 16 at 9 a.m. and 7 p.m.
