PRESENTER: Presenter
Jared Werner, Assistant City Manager
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SUBJECT: Title
Presentation, discussion and possible direction to staff regarding a potential 2027 bond program
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DEPARTMENT: N/A
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COUNCIL DISTRICTS IMPACTED: All
BACKGROUND INFORMATION:
Earlier this year, City Council discussed the potential development of a 2027 bond program based on preliminary financial projections indicating that additional debt capacity could become available in the coming years while maintaining the City's current Interest and Sinking (I&S) tax rate. The discussion was also influenced by uncertainty surrounding future state legislative actions that could affect local governments' ability to finance major capital projects, creating an interest in evaluating future infrastructure and facility needs in advance of the 2027 legislative session.
Since those initial discussions, the City has received certified FY 2027 property values and completed additional analysis of local valuation trends and long-term debt capacity. The updated information presents a different financial outlook than previously projected and warrants further discussion with City Council regarding future capital funding strategies, debt capacity assumptions, and priorities for continued investment in community infrastructure and facilities.
The purpose of this presentation is to provide Council with updated financial information, review how conditions have changed since the initial discussion, and receive policy direction regarding potential next steps for future capital planning.
ISSUE:
STRATEGIC PLAN REFERENCE:
☒Economic Mobility ☒Enhanced Connectivity ☒Community Identity
☒Organizational Excellence ☒Community Well-Being ☐N/A
FISCAL IMPACT:
While there is no direct fiscal impact from this presentation, city staff will be looking for direction from City Council based on the updated capacity analysis.
Recommendation
RECOMMENDATION:
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