Xenia council approves $1 million transfer to retire Market District bond principal

XENIA, Ohio — The Xenia City Council on Thursday adopted emergency Ordinance 2025‑27 to authorize a $1,000,000 transfer to the bond improvement fund so the city can retire principal on a Market District bond this year.

Council President Smith called for the ordinance as an emergency measure after Finance Director Ryan Duke told council the transfer had been left out of a prior appropriation tied to the Market District financing. “I didn't realize that we did not have a transfer from the $3.61 fund to the bond improvement fund…so I'm requesting tonight that council appropriate that $1,000,000 in transfer,” Duke said during the meeting.

The nut of the request: Duke said the principal and interest amounts had been appropriated in the bond improvement funds, but the interfund transfer necessary to actually move $1,000,000 to retire the outstanding note had not been authorized. The transfer will be used to pay down the principal on the note this year.

Councilman Ethan Reynolds moved adoption of Ordinance 2025‑27 as an emergency; Councilwoman Sarris seconded the motion. The ordinance passed on a roll call vote with all members present voting yes, and the president declared, “Motion carries.” The council did not discuss amendments to the ordinance during the meeting.

The action was described as corrective and procedural by staff; Duke said he would answer follow-up questions as needed. No additional conditions or implementation dates were attached to the ordinance during the meeting.

The ordinance was taken up under new business; it carried immediately after the roll call vote and was recorded in the meeting minutes as passed.