The Belton City Council approved the issuance of up to $17.7 million in certificates of obligation to support infrastructure and public safety projects outlined in the city’s 2025-29 Capital Improvements Program. The debt will be backed by property taxes and a limited pledge of utility system revenues. The bond sale, delayed twice due to market conditions, was finalized with a 4.27% interest rate and proceeds expected by May 21.
Projects funded include:
- $17.8 million for Belton’s 25% share of the Temple-Belton Wastewater Treatment Plant expansion.
- $2.3 million for utility relocations during Loop 121 expansion (Phase 2).
- $1.8 million for primary lift station force main improvements.
- $1.7 million for a new ladder truck for the fire department.
- $750,000 for acquisition of Miller Heights Elementary, which will become a public safety facility housing fire, police, EMS, emergency shelter and training space, with part of the land reserved for park use.
The certificates will also cover professional service costs such as engineering, legal and financial advisory fees.
The debt will be repaid primarily through ad valorem taxes, with a limited $1,000 pledge from surplus utility revenues. Final delivery of funds is scheduled for May 21, 2025, with repayment structured over 10 years for the fire truck and property, and 20 years for utility-related work.
The maximum maturity date of the certificates is Aug. 1, 2045, with total estimated principal and interest repayment expected to reach $28.1 million.
