Flower Mound to issue up to $10.25M in bonds to fund water, sewer system projects – Community Impact Newspaper

The Town Council approved $10.25 million as the maximum price for the projects. (Kaushiki Roy/Community Impact Newspaper)

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By Kaushiki Roy | | Updated

The Flower Mound Town Council voted June 21 to issue up to $10.25 million in certificates of obligation bonds to fund more than a dozen water and sewer system projects.

The 30-year bonds with a maturity date of March 1, 2041, would have a maximum interest of 3%.

The projects are part of the town’s 2020-21 five-year capital improvement program. According to a city memo, projects included for funding include the Sentinel Oaks and Timber Creek water line replacements, Phase 2 of Morriss Road water lines, Stonecrest Pump Station Phase 1 and discharge valve replacement, a US 377 at FM 1171 water line loop and a Spring Meadow Land sewer line replacement.