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Council reviews debt schedule options for police and fire renovations; asks for tax-impact analysis
Summary
City staff presented two financing options for renovating the police station and Fire Station 1. Council asked for analysis of certificates of obligation versus general obligation bonds and for scenarios showing effects on the tax rate and debt service.
Council received an illustrative debt schedule that bundles renovations for the police station and Fire Station 1 and compared it to a previously studied public-safety complex. Staff presented two timing/financing options and asked whether council wanted staff and the city's financial adviser to proceed with deeper analysis.
Why it matters: the council signaled support for moving the project toward formal financing but asked for specific…
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