City of Kennedale AgendaPacket Regular Meeting with Worksession 2026-06-16
Kennedale Eyes $5M Bond Issuance with SAMCO Capital
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Description
The City of Kennedale considered a bond issuance with SAMCO Capital Markets for up to $5 million in Certificates of Obligation. The funds will be used for public improvement projects and equipment, with a 20-year term and interest rates projected between 4-4.5%. Public notice requirements and council approval steps are scheduled for summer 2026.
Contract Details
Contract Amount
$5,000,000 (anticipated bond issuance)
Vendor
SAMCO CAPITAL MARKETS
Agency
KENNEDALE TOWNCENTER DEVELOPMENT DISTRICT, TX
Contract Type
FINANCIAL_SERVICES
Document Date
June 16, 2026
Contract Term
Certificate of Obligation over 20 years, payments begin 2027; final interest rates set August 18, 2026
Renewal Date
2047-12-31
Renewal Info
Bonds will be issued following council approval in August 2026, with no explicit renewal; term fixed at 20 years.
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