Consider an ordinance authorizing the issuance and sale of City of San Angelo, Texas Tax Note, Series 2026 in the approximate amount of $4,500,000; levying an annual ad valorem tax and providing for the payment of said note, providing an effective date, and enacting other provisions relating to the subject (Presentation made by Finance Director Jonathan Flores)

Staff Report & Agenda Item Details

On June 16, 2026 City Council directed Specialized Public Finance, Inc. to proceed with issuing a short-term note to fund equipment replacement and Firetruck replacement. The total amount of the short-term note is not expected to exceed $4.055 million, and the note would be paid off partially with the use of the<span style="color: rgb(65, 65, 65); font-family: sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;" data-pasted="true"> Debt Service Fund's fund balance</span> and taxes levied by the current property tax rate of .1637 per $100 dollar valuation. <br><br><strong data-pasted="true"><u>Equipment Replacement and Firetruck Replacement - $4,055,000:<br></u></strong>In recent years, the Equipment Replacement Fund for General Fund-supported functions has been funded annually via a transfer from the General Fund in the amount of approx. $1.8M, and funding for the replacement of fire trucks has been transferred from the General Fund at $400K per year. This rolling tax note program funds both the Equipment Replacement Fund and fire truck replacement at consistent levels for fiscal years 2027 and 2028.

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 8.4/10). 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).