Scottsdale reports $240M issued of $319M bond authorization; city retains triple‑A rating

Scott Selene, Scottsdale's budget director, told the Citizens Bond Oversight Committee that as of June 30, 2025 the city had issued $240 million of the $319 million authorized under the 2019 general obligation bond program and projects an additional $79 million in issuance in fiscal year 2026–27.

Selene summarized expenditures and commitments across the three voter questions: Question 1 (parks, recreation and senior services) had just under $48 million spent with roughly $14 million remaining and $45.7 million identified as future funding; Question 2 (community spaces and infrastructure) had about $42.9 million spent and $8 million remaining with $55.7 million future funding; and Question 3 (public safety and information technology) reported about $50 million spent, $17.4 million remaining and $17.5 million planned in future funding.

Why it matters: Selene emphasized that Scottsdale remains a triple‑A rated issuer and that prudent fiscal policies, reserve levels and conservative budgeting helped secure strong market reception for the city's most recent competitive general obligation sale. The most recent sale of bonds on May 20, 2025 drew 10 bids and produced a lowest true interest cost of 3.968% for bonds maturing in 2045.

Budget and issuance details: Selene said the city has spent tens of millions across bond questions and that the remaining authorized amount will be issued “during fiscal year 26–27,” subject to market and program timing. The committee also discussed the three‑year temporary period that begins with each issuance; Selene explained that each bond issuance triggers a three‑year period within which the proceeds must be spent.

Ending: The presentation concluded with committee questions about the timing and statutory spend windows. No formal action was taken on the financial status slide; the information was provided for oversight and to frame subsequent agenda items.