Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Evanston committee begins drafting citywide debt-management plan, weighs scope and limits
Summary
The Finance & Budget Committee discussed a proposed debt-management plan that would consolidate reporting on general obligation, abated and enterprise debt, review the city—s $155 million self-imposed tax-supported debt cap and consider reserve and pension liabilities as part of long-term planning.
The Evanston Finance & Budget Committee opened a discussion on a draft debt-management plan, reviewing the city—s outstanding obligations and options for a single policy that would cover tax-supported and enterprise debt.
Committee Chair Raikes said staff had prepared tables showing the city—s outstanding general obligation (G.O.) principal and payoff schedules and that members had asked at the November meeting for a debt plan. Clayton (staff) summarized the materials, noting a roughly $10,000,000 annual drop-off in unabated debt and a current self-imposed tax-supported debt limit of $155,000,000. Clayton said, "Our debt limit is $155,000,000—2 between these 2, the unabated government debt and the unabated library debt we're sitting right around 133,000,000 at the start of the year. So we're…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
