Buckeye advances GO bonds for Festival Ranch and Tartesso West water infrastructure

Buckeye advances GO bonds for Festival Ranch and Tartesso West water infrastructureThe board of directors for Buckeye's Community Facilities Districts approved 20-year general obligation bond issuances to fund water booster pumps, sewer, and stormwater improvements across two growing developments.

Festival Ranch CFD authorized up to $8 million in 20-year GO bonds to fund Water Rail 4 and Water Booster Pump Number 4.

Tartesso West CFD approved a similar 20-year bond measure to finance off-site water, sewer, and storm drain improvements.

Both bond measures carry an estimated 5% interest rate and were approved unanimously.

During a May 19, 2026 meeting, the board of directors for the City of Buckeye's Community Facilities Districts (CFDs) unanimously approved preliminary intentions to issue general obligation (GO) bonds to finance water, wastewater, and stormwater infrastructure in two local districts. In the Festival Ranch CFD, the board authorized the issuance of up to $8 million in 20-year GO bonds with an estimated 5% interest rate. According to staff member Larry Price, the proceeds will offset the costs of constructing Water Rail 4 and Water Booster Pump Number 4, alongside concrete and paving improvements. Price noted that the district's combined tax rate is expected to decrease slightly to 3.2 in 2027, as the new debt service is layered with existing obligations. The board also approved a GO bond initiation for the Tartesso West CFD. Carrying similar 20-year terms and an estimated 5% interest rate, the Tartesso West proceeds will fund off-site water, sewer, and storm drain improvements for the district, in addition to paving. The debt service tax rate for Tartesso West is estimated to increase by approximately 12 cents to 2.98 in 2027. Both measures were passed unanimously following public hearings that yielded no public comments. The board subsequently approved the tentative 2027 budgets for 11 CFDs across the city as part of its consent agenda.