Dickson City Center Bond Sale Expected Sept. 29

Dickson, TN — The City of Dickson expects to enter the bond market Sept. 29 as it moves forward with financing for the new City Center project, with city officials anticipating the money could be available by mid October.

City Administrator Dave Travis provided an update on the city's bond timeline during the Sept. 1, 2026 meeting of the Dickson City Council, saying the city had waited for a required 20 day period to expire before moving ahead with the financing process.

“At our meeting in August when we approved that, we thought there could be a petition,” Travis told the council. “So we thought we might have some pushback and a vote on that. So, we didn't want to press things forward until we got through that 20 day period.”

With that period now over, Travis said the city is moving ahead.

“We expect to be in the market on September 29,” Travis said. “That would put us getting money somewhere around the 14th, 15th of October.”

The update follows the council's August approval of resolutions necessary to move forward with the city's first $40 million in general obligation bonds.

The broader bond authorization allows the city to issue up to $80 million, although city officials previously said the initial $40 million would be directed toward the City Center project.

The City Center itself carries a guaranteed maximum construction price of $38,723,075. The council previously approved that amount as the maximum price for construction under its agreement with the project's construction manager.

The bond authorization was subject to a 20-day period following publication during which a referendum petition could be pursued. Such a petition would have required signatures from at least 10% of the city's registered voters to force the question to a public vote.

Travis told council members Sept. 1 that the city intentionally held off on advancing the bond sale until that period had passed.

The next step includes obtaining the city's rating ahead of the bond sale.

“I have a call with the rating agency next week to get our rating,” Travis said.

The timing could potentially benefit the city, according to information Travis said he received from the city's financial adviser. He said the municipal bond market had been particularly busy around the Labor Day period, which could have made Dickson's offering less attractive among a large volume of bonds.

Travis said the delay may ultimately work in the city's favor, although interest rates had been trending upward at the time of the meeting.

The actual borrowing costs will depend on market conditions when the bonds are sold.

The financing update comes as physical work on the City Center moves ahead.

During the same Sept. 1 meeting, the council approved a separate $257,847.50 agreement with ECS Southeast LLC for construction-material testing and special inspections associated with the project.

City officials said the company will provide third-party inspections throughout construction, including work involving the civil site, waterproofing, materials and concrete strength. Travis said the contract is held directly by the city and is intended to protect the city's interests by ensuring work is performed according to project plans.

The council also approved a contract language change involving the City Center's guaranteed maximum price agreement. Travis emphasized that the amendment did not increase the project's price or extend its construction schedule. Instead, it updates the contract to reflect the completed construction documents that will govern the work.

The City Center is being developed at the former municipal building site at 202 S. Main St. in downtown Dickson.

City officials held a groundbreaking ceremony for Sept. 11 at the property.

If the financing proceeds according to the timeline presented to the council, Dickson would enter the bond market Sept. 29 and could receive the proceeds approximately two weeks later, around Oct. 14 or 15.