On Tuesday, the Amarillo City Council unanimously approved moving forward on issuing two sets of certificates of obligation (CO) related to addressing infrastructure needs. Also, the council approved a contract with a search firm for the city manager’s position and a construction contract for Transformation Park.
Assistant City Manager Laura Storrs presented both resolutions to the council, stating that this measure is needed to fund the $13,500,000 in contractual obligations taken on by the city for improving streets, pedestrian pathways, traffic signage, and for the acquisition of right of ways, and land for much-needed infrastructure improvements.
Storrs said the debt issuance will create almost $28 million with matching federal funds.
“In total, we are going to have, I believe, closer to $28 million in investment in our streets here in our community, but almost half of that is coming from the federal government. The rest of it is coming from this debt issuances as matching dollars and then for funding for other street projects,” Storrs said.