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Marshall Development News

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City of Marshall "June 25, 2026" City Council Meeting

Published: Jun 25, 2026

Budget & FinanceInfrastructure

City Council Authorizes $35 Million in Certificates of Obligation for Water and Wastewater Improvements

The City Council considered and authorized the issuance and sale of combination tax and revenue certificates of obligation, Series 2026, to fund water and wastewater system improvements. The total funding needs identified in a water and wastewater study amounted to $76 million, with the council deciding to proceed with a $35 million segment for the first CO issue. These funds will address critical infrastructure needs, including system stabilization, long-term water line replacement, and positioning the city to leverage WSIC grant funding. The bond sale was successful, achieving a lower than projected interest rate of 4.48% compared to the initial estimate of 4.6%. The debt service for these certificates is projected to be approximately $2.16 million per year, with an anticipated increase in the interest and sinking fund tax rate to just under $0.17. The city also received an affirmed rating of AA- from SP Global for its financial management. The ordinance was approved by the council, enabling the city to move forward with these essential projects.

Budget & FinanceAll

City Council Accepts Independent Auditor's Report for Fiscal Year 2025; Unmodified Opinion Issued

The City Council reviewed and accepted the independent auditor's report for the fiscal year ended December 31st, 2025. The audit was conducted by Peteo, Brown, and Hill, and the report was filed within the 180-day deadline required by Texas law. The auditors issued an unmodified opinion, indicating that the city's financial statements were presented fairly and in accordance with generally accepted accounting standards, with no significant findings or issues. The audit also included a single audit due to federal expenditures, which also resulted in no findings. The report highlighted key financial figures, including total assets of nearly $200 million, total net position of almost $100 million, and governmental fund balances of about $32 million. The finance department team was recognized for their extensive work in preparing for the audit, especially in implementing new financial systems and processes to improve bank reconciliations.

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The Marshall News archive

36 past meetings
Jun 11

City of Marshall "June 11, 2026" City Council Meeting

May 28

City of Marshall "May 28, 2026" City Council Meeting

May 19

May 2026 Board Meeting

May 14

City of Marshall "May 14, 2026" City Council Meeting

May 11

City of Marshall "May 11 , 2026" Special Called City Council Meeting

Apr 23

City of Marshall "April 23, 2026" City Council Meeting

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