None
EN
San Antonio City Council OKs up to $795 million of debt
['Senior Reporter', 'Karen Is A Senior Reporter Covering The Southwest. She Has Covered The Municipal Bond Market For More Than Years At The Bond Buyer', 'Buy-Side Specialist', 'Northeast Reporter', 'Staff Writer', 'Southeast Reporter']
The Latest
City of San AntonioSan Antonio, Texas, will head to the municipal bond market later this month after the city council on Thursday approved the issuance of up to $795 million of debt.
Taxable GO bonds of up to $30 million will finance affordable housing, $130 million of tax-exempt and $25 million of taxable combination tax and revenue certificates of obligation, as well as $10 million of tax notes, are earmarked for various city projects and equipment.
The debt will be combined in an issue scheduled to price the week of Aug. 24, San Antonio City Manager Erik Walsh told the council.
He also reported the property tax-backed debt was rated triple-A by Moody's Ratings and S&P Global Ratings, and AA-plus by Fitch Ratings.
Mayor Gina Ortiz Jones has cited a $158 million deficit in the upcoming fiscal 2027 budget as part of her push to put the city's $489 million revenue bond-financed contribution for a $1.3 billion arena for the National Basketball Association's San Antonio Spurs on the November ballot.