The Sherman City Council will discuss an ordinance to issue $4 million in debt during its regular meeting Monday at 5 p.m. in the council chambers of City Hall, 220 W. Mulberry St.
A public hearing will be held on an ordinance to issue $4 million in certificates of obligation the city is considering to fund stormwater projects needed in the city.
In September, the council approved a resolution authorizing the publication of a notice of its intention to issue $7 million in certificates of obligation and declaring its expectation to repay expenditures with proceeds of future debt. Since that time, city staff determined $3 million in projects will qualify for funding from the Texas Water Development Board.
In a document prepared for the council, city staff said the money from the issuance of the certificates of obligation is expected to be received in December and the bonds will be repaid with funds from the city’s recently established Stormwater Utility Fee.
In addition to that public hearing, the council will also hold public hearings on items previously approved by the city’s Planning & Zoning Commission.
The council will also consider a resolution awarding a contract to Crossland Construction to be construction manager-at-risk for the planned relocation of the city’s Blalock Park Fire Station No. 4.
Separate resolutions will also be considered to award a contract for engineering services for the widening of FM 1417 and an advance funding agreement for the work with the Texas Department of Transportation.
A request from Texoma Neon to be part of the city’s Central Business District Historic Building Restoration and Improvement Grant Program for the new fiscal year will also be considered.
The council will also consider the authorizing the purchase of several pieces of heavy equipment, including two dump trucks, a micro planer, a front end loader, a steel wheel roller and a wheel excavator.
Requests to temporarily close streets for the annual Sherman Christmas Parade and Snowflake Festival on Dec. 2 will also be considered, as well as the Beat the Heat 5K Run/Walk on April 28.
The council will also consider an appointment to the city’s Library Board and will hold a closed executive session near the end of the meeting. During that closed session, the council will consider pending litigation and economic development negotiations. The council will then reconvene in open session to take any actions deemed necessary.