The Victoria City Council will vote on funding for capital improvement projects and a contract for the development of a new active transportation master plan at 5 p.m. on Tuesday.
The council will vote on a resolution to sell $2.45 million in certificates of obligation bonds to fund a portion of the four-year capital improvements project list, which includes funding for Spring Creek Road and Dairy Road reconstruction and Wagner Way Extension.
The city of Victoria will have enough debt capacity available to absorb the $2.45 million bond issue without affecting its financial condition, according to the agenda item. Debt service on these bonds can be met with the debt service rate approved for fiscial 2023.
“The City expects to issue CO Bonds and Revenue Bonds in an estimated amount not to exceed $2,450,000 and $12,400,000, respectively, later this fiscal year and reimburse the General Fund and/or Water/Wastewater Fund for any expenses related to this project should they occur,” according to the meeting’s agenda.
Those budgets will be reimbursed from the issuance of the bonds when they close, which is expected to be in March, according to the Agenda.
The funds from the revenue bonds are expected to go to Dairy Road, Tanglewood Partial Utility/Street, College Park Utility/Street and Bon Aire Utility/Street reconstruction and a Water Meter Replacement Program, according to the Agenda.
In other business, the council will vote on a service contract for the development of an active transportation master plan, which is designed to guide development to serve the needs pedestrians, bicyclists and those using other forms travel that do not use motors.
The contract, if approved, will pay $100,000 to Austin-based Alliance Transportation Group LLC for the development of the master plan.
Victoria has an average walk score of 35 and an average bike score of 41 out of a possible 100, according to Walkscore.com. This means Victoria is a car-dependent city.
“The development of a new and updated Active Transportation Master Plan for the City of Victoria will continue to address the safe and efficient multimodal movement of people and goods throughout Victoria and expand upon Victoria’s current network of pedestrian and bicyclist facilities,” the agenda item said.
Kyle Cotton was born and raised in San Antonio and graduated from San Antonio College and the University of Texas at Arlington. Cotton has covered economic development, health care, finance, government, technology, oil and gas and higher education.
