Xenia council approves bond issue for Market District, narrows backflow rule and adopts tax estimates; Rumpke renewal authorized

The Xenia City Council on Sept. 11 moved to convert short-term notes into a 10-year taxable bond for part of the Market District, narrowed the city's backflow-preventer requirement to structures identified by the Ohio plumbing code, accepted county-certified tax estimates for 2026 and authorized the city manager to execute a contract addendum with Rumpke to extend trash service.

The most consequential vote was an emergency ordinance authorizing the issuance of up to $1,850,000 in special-obligation taxable bonds to refinance notes taken to acquire the city's leasehold interest in the Xenia Town Square/Market District. Ryan Duke, finance director, told council the 2021 notes had been rolled annually and were due to mature Oct. 22, 2025; staff proposed issuing a 10-year bond, paying down $1 million of principal now and carrying roughly $1.8 million forward plus about $50,000 in issuance costs. Duke said, "Staff recommends rather than continuing to roll these over, year after year, that we issue bonds, a 10 year bond." He said the ordinance permits interest up to 7.5 percent but staff expects market rates closer to 6 percent and has sought lenders who would allow prepayment without penalty so sale proceeds could be used to retire principal earlier. Council passed the ordinance as an emergency; the roll call was unanimous.

Council also completed a public hearing and passed an amendment to Section 10.15.1 of the Xenia City Code that narrows the city's backflow-preventer requirement. City…