Council authorizes offering of up to $50 million in general obligation bonds to fund projects from 2023 package

The Lee's Summit City Council unanimously adopted a resolution authorizing the offering for sale of up to $50 million in general obligation bonds to fund projects included in the 2023 no-tax-increase bond package.

Finance Director Brianna Bericher told council voters previously approved up to $186 million in general obligation bonds across three ballot questions (emergency preparedness, transportation, and city facilities reinvestment). She said the city structured prior issuances to preserve the debt-service levy and that this 2025A issuance would continue that approach. “I just really wanted to show that we have plenty of capacity to cover this, leaving our mill levy flat,” Bericher said.

Staff reported the proposed 2025A issuance will support projects already underway, including completion of the joint operations facility, continued work on Hangar 2 at the airport, and finishing the city’s enterprise-resource‑planning (Workday) implementation and related facility reinvestments. The presentation summarized the prior 2024 issuance status and showed the split of proceeds across the three ballot questions.

The council adopted the resolution to approve marketing an offering for up to $50,000,000 and directed staff to return with formal ordinance readings in October; staff said the planned closing date for the issuance is November 13, 2025.

Councilmember Shields moved adoption of the resolution; Councilmember Carlisle seconded. The motion passed 9-0.