Consider action to adopt parameter ordinances authorizing the issuance of General Obligation Bonds, Certificates of Obligation, Tax Notes, and Water and Sewer Revenue Bonds with the final terms to be approved by the City's pricing officers on any date until expiration of the delegated authority.

Staff Report & Agenda Item Details

The purpose of this item is to obtain Council’s adoption of Parameter Ordinances authorizing the sale of the following debt instruments: i) general obligation bonds ($14.3 million of projects), ii) certificates of obligation ($5.2 million of projects), iii) tax notes ($5.5 million of projects), and iv) water and sewer bonds ($7 million of projects) (collectively the “2026 Debt Instruments”). Proceeds will fund voter-approved bond projects, Council-authorized capital improvements and equipment, and water and sewer infrastructure improvements. The ordinances delegate authority to the City's pricing officers to approve the final terms of each issuance, within Council-approved parameters, allowing the City to take advantage of favorable market conditions while maintaining oversight of maximum principal amounts, interest rates, and maturity dates.

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 8.5/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).