Approve an ordinance authorizing the issuance by Pilot Knob Municipal Utility District No. 3 (District) of Unlimited Tax Road Bonds, Series 2025, in an amount not to exceed $16,225,000, to be used for street extension projects on William Cannon Drive, Colton Bluff Springs Road, and Union Park Lane, William Cannon Drive landscaping, and related engineering costs and costs of issuing the bonds; and waiving City Code Sections 25-9-284 and 25-9-287 to waive notice of the District’s application to Council and the Water and Wastewater Commission and waive Commission review of the application to the extent required. Funding: This item has no fiscal impact.

The City Council is asked to approve an ordinance allowing Pilot Knob Municipal Utility District No. 3 (District) to issue Unlimited Tax Road Bonds, Series 2025, for up to $16,225,000. These funds will finance street extension projects on William Cannon Drive, Colton Bluff Springs Road, and Union Park Lane, along with William Cannon Drive landscaping, and associated engineering and issuance costs. The bonds, dated December 10, 2025, are rated "A3" by Moody's and are solely the District's obligation, with the City waiving certain notice and review requirements.

Residents of Pilot Knob Municipal Utility District No. 3 will benefit from improved roads and landscaping within the district, funded by these bonds, which are solely the District's financial responsibility unless the City of Austin fully annexes the District after December 31, 2037.

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