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City treasurer presents $168M general‑obligation and $307M utility financing targets; timeline aims for April sale
Summary
City Treasurer Mark Hute reviewed the city’s 2025 financing plan, proposing up to $168 million in tax‑supported general obligation proceeds and $307 million in utility system revenue obligations, and describing voter authorization, debt structure and a timeline to sell bonds in April and receive proceeds in May.
Mark Hute, the city treasurer, briefed the council on the city’s 2025 financing plan, describing how the city uses debt to finance major capital projects and presenting draft target proceeds of $168 million for general obligation (G.O.) financing and $307 million for utility system revenue obligations.
Hute said the G.O. target would fund libraries, parks, public safety and transportation projects, with about 63% of the proposed G.O. proceeds budgeted for public safety projects. He described the financing process—from capital improvement planning to voter authorization for qualified G.O. issuances—and said the new issuances have a maximum maturity of 25 years and are being prepared with a standard 10‑year…
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