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Council discusses capital plan, debt length and increased pavement spending ahead of June vote
Summary
Budget staff previewed the 2026–2035 CIP and 2026–2028 CIB, proposing a shift to longer‑term bonds to free operating revenue and a $3 million annual increase in pavement management using sales tax fund balance; councilmembers urged caution about extending bond terms amid operating shortfalls.
City budget staff presented the draft 2026–2035 Capital Improvement Plan (CIP) and the 2026–2028 Capital Improvement Budget (CIB) for discussion on May 13 and said staff will move the tentative vote to the council’s June 3 meeting to allow additional review.
Why it matters: The CIP and CIB set multi‑year capital spending and debt strategy. Staff proposed issuing 20‑year general obligation (G.O.) bonds rather than 15‑year bonds to shift debt‑service timing, which staff said would free roughly $3,000,000 in near‑term revenue for…
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