KILLEEN, Texas (Jan. 5, 2023) – The City of Killeen City Council will hold a special workshop on Monday, Jan. 9 at 6 p.m. to discuss putting a General Obligation (GO) Bond on a future election ballot. Citizens are encouraged to attend to hear the options and provide comments. The workshop will be at City Hall (101 North College Street).
Councilmembers will discuss alternative funding measures to the city’s future. The item, listed on the agenda as DS-23-004 (Discuss Future Capital Projects and Bond Issue), was requested by the Council during the Nov. 15, 2022, meeting. It was initially moved forward as a discussion item in September by Mayor Pro Tem Ken Wilkerson and Councilmember Michael Boyd, to have the city provide a financial forecast and a future debt service capacity. After that information was presented in November, the Council voted to create the special workshop.
GO Bonds are issued by local governments, such as municipalities and schools, to finance infrastructure projects, including roads, bridges, and other critical public works projects. GO bonds issued by local governments are payable from the local issuer’s property taxes for a governmental capital project fund. GO bonds for local municipal governments require voter approval.