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Council tables $20 million bond ordinance after finance report; staff recommends delaying issuance
Summary
After a brief finance director report, council on Jan. 27 voted to table Ordinance 2‑2025, which would have authorized up to $20 million in general obligation notes/bonds for capital projects. Staff said strong cash balances and market uncertainty justify postponing a bond sale until later.
Upper Arlington City Council tabled Ordinance 2‑2025 on Jan. 27, a measure that had authorized issuance of up to $20 million in general obligation notes or bonds for capital projects. The tabling followed a short finance report and a staff recommendation to delay bonding because of favorable cash reserves and uncertainty in capital markets.
Finance Director (name in packet: Lewis) reported that the city finished the prior year with stronger than expected revenues and that the…
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