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Board approves Baker Tilly engagement to analyze possible 2025 debt issuance
Summary
The Board approved an engagement letter with Baker Tilly to analyze options for a potential 2025 debt issuance and produce updated financing numbers under legislative changes.
The La Porte City Board of Works authorized city staff to engage Baker Tilly to run financial analyses for a potential 2025 debt issuance.
Clerk Treasurer Parthen asked the board to approve an engagement letter with Baker Tilly to run numbers for possible debt tied to improvements or new construction. Parthen said the exercise is preliminary: "Nothing is set in stone. They're just running some numbers for us to look at," she said.
Parthen and other staff described the work as updating financing scenarios following legislative changes earlier in the year, and to ensure information on potential property-tax-backed debt is current. Staff told the board recent activity included a 2012 GO bond refund that saved roughly $250,000 to residents; the Baker Tilly work is a staff-funded analysis rather than a binding financing decision.
A motion to approve the engagement passed by voice vote. Staff said any actual issuance would return to the board for formal approval, and the Baker Tilly engagement is intended to inform whether and how the city might proceed.
The board did not set an issuance date and indicated the engagement is to provide options for future consideration rather than to authorize borrowing immediately.
