Oak Harbor outlines municipal debt and remaining general‑obligation capacity

In a February 2025 "Let's Talk Finance" presentation, David Goldman, presenter for the City of Oak Harbor, summarized the city's municipal debt portfolio and remaining borrowing capacity under Washington state limits, saying the city had about $75.8 million of remaining capacity under the primary 2.5% assessed-value general‑obligation limit and a $50.2 million councilmanic (city-council) limit.

Goldman said the city carries three general‑obligation issues and three revenue debt issues as of February 2025 and described how state rules and local policy affect future borrowing. He told viewers that Washington state allows three separate 2.5% assessed‑value general‑obligation limits — for general governmental purposes; for lights, water and sewer; and for open space, parks and economic development — for a combined 7.5% statutory ceiling. He said up to 1.5% of the first 2.5% can be…