Item 95 — Thursday, September 24, 2026
In plain language — from agenda source text
This is the bit of bookkeeping that lets Austin Energy pay cash now for capital work and pay itself back later out of bond proceeds. The resolution declares the City's official intent to reimburse itself from tax-exempt obligations in an aggregate maximum principal amount of $876,000,000 for electric utility capital improvement projects paid during Fiscal Year 2026-2027. Without that declaration on the books ahead of time, those earlier expenses can't be covered by the bonds. Funding is available in Austin Energy's Capital Budget.
Current official agenda wording
Approve a resolution declaring the City's official intent to reimburse itself from the proceeds of tax-exempt obligations in an aggregate maximum principal amount of $876,000,000 for acquisition and construction of electric utility capital improvement projects paid in Fiscal Year 2026-2027. Funding: Available in Austin Energy’s Capital Budget. A fiscal note is attached.
"without objection, the consent agenda is adopted with the Mayor Watson being shown, voting no on items 48 through 59 and Council Member Alter being shown voting no on item number 49. [00:45:01]" — meeting transcript (unofficial)
What got said
Attributed statements from the meeting transcript, not official agenda values.
- Council Member Alter confirmed with Austin Energy that the reimbursement resolution preserves tax-exempt status for planned capital work.