Granbury City Council, July 21. 2026: City Council approves $20M in Certificates of Obligation

The Granbury City Council held a meeting on July 21, 2026, during which they approved the issuance of $20 million in Certificates of Obligation Series 2026. These funds are designated primarily for road improvement projects throughout the city. The council received a detailed presentation from John Martin of Hilltop Securities, the city's municipal advisor, who highlighted the city's strong double A credit rating from S&P and favorable interest rates achieved through competitive bidding. The bonds will be repaid through an ad valorem tax levy and a limited pledge of the city's combined water, sewer, and electric systems. The council unanimously passed the motion to approve the certificates, with an estimated increase of about 25 cents in the I&S tax rate to cover debt service. The meeting emphasized the importance of maintaining strong fund balances to preserve the city's credit rating and secure low borrowing costs for future projects.