At today’s meeting of the Brownwood City Council, approval was given to the issuance and sale of Certificates of Obligation in the amount of $17,125,000.  These funds will be used to pay for the Downtown Master Plan’s improvements to streets, sidewalks, lighting, landscaping, infrastructure, etc. on Fisk and Baker Streets.  The Certificates will be paid off over twenty years.  The debt service payments will be about $1.18 million per year for the first six years, and then about $1.5 million per year for the next fourteen years.

The Council also approved a resolution authorizing a grant application with the Texas Parks and Wildlife Department.  The grant, if approved by TPWD, would be a matching grant of $750,000.  The total of $1.5 million would be used for the creation of an Art Park on Fisk Avenue, on a vacant lot currently owned by Texas Bank.  The new Art Park is described on the City’s website as “a vibrant public art space adjacent to Fisk Street, incorporating artistic elements.  The project will be a public/private partnership, and transform the area into a family-friendly destination, enhancing the non-commercial offerings.”

The Council also approved a resolution “suspending the July 31, 2025 Effective Date of Oncor Electric Delivery Company’s Rate increase request.”  Oncor has proposed an increase of 13% to the electricity delivery charge on monthly electric bills.  (The rate increase would not apply to the cost of electricity consumed, but rather to the charge for delivering that electricity to the end user.)  Today’s action by the Council rejected the rate increase request, and the City and Oncor will now negotiate on the delivery rate charges for the future.

The Brownwood City Council will next meet on Thursday, July 10, at 5:30 p.m. in City Hall for a Budget Workshop.