Combined Utility System Refunding Bonds Ordinance
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**PULLED – This item will not be considered on Wednesday, October 28, 2026 ORDINANCE supplementing the City of Houston, Texas Combined Utility System Master Ordinance No. [2026-___] relating to the issuance of Combined Utility System First Lien Revenue Refunding Bonds in one or more Series; authorizing the Mayor and City Controller to approve the Amounts, Interest Rates, Prices, and Terms thereof and certain other matters relating thereto; making other provisions regarding such Bonds including the use of one or more Preliminary Official Statements and authorizing the Preparation and Distribution of one or more Official Statements and matters incident thereto; awarding the sale of the Bonds; authorizing the Defeasance, Final Payment, Discharge of certain outstanding Combined Utility System Obligations; authorizing the termination of qualified Hedge Agreements and the payment of Termination Payments; authorizing the Execution and Delivery of one or more Bond Purchase Agreements, Paying Agent/Registrar Agreements, authorizing the Execution and Delivery of one or more Escrow Agreements; authorizing the Purchase of and Subscription for certain Escrowed Securities; authorizing Escrow Verification and Engagement of an Escrow Agent; ratifying a Co-Bond Counsel Agreement and a Special Disclosure Co-Counsel Agreement; authorizing the Execution and Delivery of a Paying Agent/Registrar Agreement and other related documents; making other provisions regarding such bonds; and declaring an emergency This item should only be considered after the passage of Item 6 above
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Actions
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Obtain Item 6 to check bond refunding dependency
Applies if: You advise underwriters, bondholders, hedge counterparties, or the city on this financing.
Why now: The record says this item should only be considered after passage of Item 6, it was Not Received - Not Considered on October 28, 2026, and it delegates approval of amounts, rates, prices and terms to the Mayor and City Controller and declares an emergency.
What to do: Pull the text of Item 6 and compare it to the pulled refunding ordinance to see what must pass first and whether the delegated pricing authority and emergency clause depend on it. Until you know, treat the sequencing and timing of the refunding as unresolved.
Act before: After the next material record update
Ask why Houston pulled utility refunding bond ordinance
Applies if: You are covering city finances or utility debt.
Why now: The October 27, 2026 record shows the item was marked PULLED and not considered on October 28, with a note that it should only be considered after passage of Item 6, and the ordinance authorizes termination of hedge agreements and payment of Termination Payments.
What to do: Ask the City Controller's office and the Mayor's office why this bond ordinance was pulled, and whether the Item 6 dependency was the cause. Also ask whether the pending hedge agreement terminations and their termination payments are affected by the delay.
Act before: After the next material record update
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**PULLED – This item will not be considered on Wednesday, October 28, 2026 ORDINANCE supplementing the City of Houston, Texas Combined Utility System Master Ordinance No. [2026-___] relating to the issuance of Combined Utility System First Lien Revenue Refunding Bonds in one or more Series; authorizing the Mayor and City Controller to approve the Amounts, Interest Rates, Prices, and Terms thereof and certain other matters relating thereto; making other provisions regarding such Bonds including the use of one or more Preliminary Official Statements and authorizing the Preparation and Distribution of one or more Official Statements and matters incident thereto; awarding the sale of the Bonds; authorizing the Defeasance, Final Payment, Discharge of certain outstanding Combined Utility System Obligations; authorizing the termination of qualified Hedge Agreements and the payment of Termination Payments; authorizing the Execution and Delivery of one or more Bond Purchase Agreements, Paying Agent/Registrar Agreements, authorizing the Execution and Delivery of one or more Escrow Agreements; authorizing the Purchase of and Subscription for certain Escrowed Securities; authorizing Escrow Verification and Engagement of an Escrow Agent; ratifying a Co-Bond Counsel Agreement and a Special Disclosure Co-Counsel Agreement; authorizing the Execution and Delivery of a Paying Agent/Registrar Agreement and other related documents; making other provisions regarding such bonds; and declaring an emergency This item should only be considered after the passage of Item 6 above
Vote: 0 for, 0 against
not considered - ordinance supplementing Combined Utility System Master Ordinance for First Lien Revenue Refunding Bonds, hedge agreement termination and escrow