The City of Coppell will publish a Notice of Intention to issue certificates of obligation in an amount not to exceed $23,250,000 for a street project as well as various waterworks and sewer system projects.
The majority of the funds — $16 million — will go to the Belt Line Road project, which consists of paving, drainage and utility improvements from Denton Tap Road to I-635. Construction is scheduled to begin this spring. This portion of the bond will be repaid with the debt portion of the property tax rate.
The remaining $7 million will be spread across water and sewer system projects including:
- $5 million for the water system redundancy project — This project is planned to establish cross-connections between the Coppell water system and the systems of neighboring cities, so water can be shared in the event of an emergency. Modifications will also be made to Village Parkway Pump Station to allow for major maintenance and rehabilitation, as well as pumping and power supply redundancy.
- $1.5 million for the painting and rehabilitation of Water Tower #2 — About every 10 years, the elevated storage tank is drained, inspected, repaired, and repainted as necessary to protect the integrity of the tank.
- $500,000 to replace various large diameter water lines that were identified through the asset management study — The goal of this ongoing effort to maintain the City’s infrastructure assets is to identify water mains and valves that need to be replaced before a leak or break occurs. It is anticipated that both water line mains and valves will need to be replaced.
This portion of the bond will be repaid with the Water and Sewer Fund revenues.
The not to exceed amount also includes an estimate for bond issue costs.
As the first step in the issuance process, the Notice of Intention will be published in the newspaper for two consecutive weeks. The proposed issue will then be considered via ordinance during the regularly scheduled City Council meeting on April 27, 2021.