Fayetteville, Arkansas Development News

Fayetteville Authorizes $191 Million in Bonds for Capital Improvements and Refunding

The Fayetteville City Council voted to authorize the issuance and sale of up to $191,220,000 in sales and use tax capital improvement and refunding bonds, Series 2026. These bonds will finance various capital improvement projects including water and wastewater system upgrades, park improvements, an animal services facility, trail system enhancements, transportation projects, sustainability initiatives, an aquatics recreation center, and fire department facilities. Additionally, a portion of the bond proceeds will be used to refund the city's outstanding sales and use tax capital improvement bonds from 2022 and 2024. The ordinance also authorizes the execution of related financing documents, including a trust indenture, official statement, bond purchase agreement, continuing disclosure agreement, and an escrow deposit agreement. The council approved the ordinance on an emergency basis.