By George Slaughter
While the Katy City Council Monday night passed an ordinance authorizing the issuance of $9 million in bonds for street and drainage improvements following last year’s hurricane, the city has been using its cash reserves to begin work on those projects now.
Mayor Chuck Brawner has said that the bonds will help the city rebuild its reserves.
Projects include elevating the 1st Street bridge and Katy Hockley Road (Avenue D), drainage for the Fortuna and Pine Forest subdivisions, and a detention pond at Pitts Road.
Matt Dustin, director of municipal finance at RBC Capital Markets, recommended that the council adopt a proposal from JP Morgan Chase Bank for 2.906% interest with no optional redemption.
He said the $108,000 in saved interest money under this proposal made preferable it to the second-choice proposal, from Frost Bank, for 3.040% interest and a 7-year optional redemption.
Voters approved the bonds in last month’s election. The bonds total $19.25 million and will not affect the city property tax rate.
Brawner said the bond for expanding the city’s sewer plant would be addressed separately.
In other action, the council:
- Amended the zoning ordinance for the West Ten Business Park Planned Development District to ensure that construction trailers comply with existing city codes.
- Reviewed the bank statement and check register through May 31.
- Approved the 2019 No Label Triathlon, scheduled for April 20, 2019. The event begins at the Katy High School Natatorium and ends at the No Label Brewery.
- Approved the 2019 Happy Half Marathon, set for July 20, 2019. The event begins and finishes at the No Label Brewery.
- Approved a $1,000 dues payment to the West I-10 Chamber of Commerce.
- Approved a street closure request for the City of Katy Freedom Celebration. Star Lane between Katy Fort Bend Rd. and Katy Mills Circle will be close from 6 a.m. to 11 p.m. on Wednesday, July 4, for the fireworks display.
- Approved a final plat for the Reserve at Katy Section 8 in Fort Bend County.
- Approved a $15,000 dues payment to the Katy Area Economic Development Council.
- Approved a $15,000 dues payment to the Waller County Economic Development Partnership.
- Approved a $3,750 dues payment to the Greater Houston Partnership.
- Approved a $500 dues payment to the Texas Economic Development Council.
- Awarded a $179,200 bid for hauling sludge and landfill disposal to Sprint Waste Services of Houston. The total project cost is $198,720.
- Authorized the mayor to sign an interlocal, or affiliation, agreement with the Katy Independent School District Emergency Medical Services Education Program for education and training purposes.
- Approved a 10/20 year write off of property taxes for 2018 for $8,785.35.
- Awarded a bid and authorized the mayor to enter into an agreement with Tetra Tech, Inc., for monitoring of debris removal.
- Awarded bids and authorized the mayor to enter into agreements for debris removal services to Ceres Environmental Services, Inc., as primary contractor, and TFR Enterprises, Inc., as secondary contractor.
- Passed an ordinance making appointments to city boards and commissions. For a complete list, see here.
- Adopted a resolution authorizing an agreement with American Furniture Warehouse Company for the development of 29.4 acres near the intersection of I-10 and Pin Oak Road.