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Columbus council authorizes broad bond sales, highlights AAA rating and $1.9 billion voter request
Summary
City council approved a package of ordinances authorizing multiple unlimited and limited tax bond issuances and refundings tied to the 2024–25 capital program and announced a November ballot request totaling $1.9 billion across five issues.
Columbus City Council on Sept. 16 approved a series of ordinances authorizing the city to issue both unlimited and limited tax bonds for capital projects, and approved refunding authority for previously issued general obligation debt.
Council member Banks, chairing the Finance and Governance Committee, told colleagues the nine bond ordinances before the council seek authority to issue about $350 million in municipal bonds as part of the city’s capital plans. Banks said the city continues to hold a triple‑A bond rating and that the 25% income‑tax set‑aside makes large infrastructure borrowing possible without raising taxes.
The ordinances authorize bond proceeds for specific project categories, including: - Health, safety and infrastructure projects (ordinance 24-21) — up to $55,460,000. - Recreation and parks projects (24-22) — up to $51,535,000. - Public service projects (24-23) — up to $72,225,000. - Neighborhood development…
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