The Edinburg City Council is considering issuing $8.6 million in certificates of obligation to finance capital improvements related to drainage, street lighting and parks.
During its April 3 meeting, the council heard a presentation on a preliminary plan of finance by Finance Director Ascencion Alonzo. Hilltop Securities Inc., the city’s financial adviser, prepared the plan.
Proposed improvements are as follows:
–Southeast Holy Family Area Drainage, $1.4 million;
–South Central Sprague Street Area Drainage, $2.6 million;
–Northeast Kuhn Street Area Drainage, $600,000;
–Northeast Doolittle Road Area Drainage, $500,000;
–City Wide Street lighting For Dark Areas, $300,000;
–Davis Road Soccer/Football Fields Park, $2.2 million;
–and Engineering Services for Drainage and Park Projects, $1 million.
To finance the project, the preliminary plan states that the city can issue tax-exempt Combination Tax & Revenue Certificates of Obligation, Series 2018.
The certificates would be secured by the city’s ad valorem tax revenues and a limited pledge of the city’s waterworks and sewer system. The plan assumes that the issuance/bond sale would take place on June 5 and close June 27. The first payment would be made on March 1, 2019 and the final payment would be on March 1, 2038.
“The City of Edinburg’s financial goal is to keep the property tax stable by making efficient use of taxpayer’s funds, while maintaining a fund balance of 25 percent of projected expenditures,” according to the preliminary plan of finance. “The City has maintained a tax rate of .6350 per $100 valuation for the past 23 years and strives to continue this trend.”
No action was taken on the plan. A revised final plan will be presented for the council’s consideration on April 17.
In other business, the council awarded:
— a contract for the rehabilitation of the sanitary sewer project to Southern Trenchless Solutions in the amount of $48,600. The company will repair or replace about 680 feet of sewer line in the alley between Ninth and 10th streets, and between Freddy Gonzalez Drive and Baker Street.
— Job Task Order No. 1 in the amount of $53,150 to South Texas Infrastructure Group, which will redesign the traffic signals at Wisconsin and Jackson Roads, and Wisconsin and McColl Roads.
— a contract for Lull Subdivision Phase 1 of Drainage Preparation to Venser Contractors Inc. in the amount of $499,881. The implementation will service about 354 lots with 214 homes in the subdivision.
— a contract to reconstruct 2506 Longoria Lane to Carranza Development LLC in the amount of $58,625. The project is part of the Housing Assistance Program.
The council authorized the purchase of 20 new 2018 Ford Interceptor SUV’s from Silsbee Ford for the Police Department in the amount of $693,019.
“It is safe to say this is the most police cars purchased in the history of the city,” Molina said.
The council also recognized the UTRGV Men’s and Women’s Track and Field Teams with a proclamation for their performance in the recent 2018 Western Athletic Conference Indoor Track and Field Championships.
“We are very grateful for this honor,” Head Coach Darren Flowers told the council during its April 3 meeting. “We’re proud to represent the [Rio Grande] Valley in such a way, and also represent the City of Edinburg in such a way.”
Flowers commended four track members for their accomplishments: high jump conference champion Anthony Magallon, 3,000-meter and 5,000-meter champ Abraham Chirchir, shot put winner Paul May and long-jump champ Idatonye Cheetham-West.
“We’re really proud of our student athletes,” Flowers said.
City Mayor Richard Molina also congratulated the teams.
“[The] track and field teams had an outstanding performance in the 2018 Western Athletic Conference Indoor Track and Field Championships … coming away with five WAC championships,” Molina said. “Anthony Magallon was crowned the WAC champion in the men’s high jump after clearing a height of 2.06 meters or 6 feet and 9 inches.”
Molina added humorously, “So, I think he just barely broke my record but congratulations.”
The height ranked the third highest in the program’s history. Magallon was one of three competitors to clear the 2-meter mark.
May won the championship in men’s shot put with a throw of 16.58 meters, or 54 feet.
Chirchir also won the 2018 WAC Freshman of the Year for his performance. Molina said Chirchir now holds a program record in the 3,000-meter race after breaking a 15-year-old program record with a time of 14:10.32.
Molina also congratulated Cheetham-West, who won 24 points in the women’s High Point Award from her three competitions.
