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Mesa council reviews CIP, explains difference between GO bonds and utility revenue bonds
Summary
At a June 2 study session, Mesa City Council members reviewed the five-year capital improvement program, discussed how general obligation bonds differ from utility revenue bonds, and heard staff say utility rate forecasts adopted earlier this year will be revisited in the fall; no formal action was taken.
Mesa City Council members discussed the city's five-year capital improvement program and the difference between general obligation bonds and utility revenue bonds at a June 2 study session, with staff saying rate forecasts adopted earlier this year will be revisited in the fall.
The distinction matters for how projects are paid for: "the GO bonds, the general obligation bonds, those are paid for through the secondary property tax," a finance staff member said. "The revenue obligation bonds, the utility revenue obligation bonds, those are paid through the rates of the utility themselves." The comments came during a review of the regular and special meeting agendas and the proposed CIP items attached to a special…
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