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Finance committee forwards $73M bond authorization; staff says $36M likely to be issued initially
Summary
The Finance Standing Committee on Sept. 3 voted to recommend O-31-25, an ordinance authorizing issuance of general obligation bonds and bond anticipation notes aggregating previously appropriated but unissued project funding—shown in the ordinance at about $73 million.
The Finance Standing Committee on Sept. 3 voted to recommend O-31-25, an ordinance authorizing issuance of general obligation bonds and bond anticipation notes to cover previously appropriated but unissued capital projects. The ordinance aggregates bond authority tied to multiple prior budgets, producing a notional total near $73 million.
Finance Director Moran described the ordinance as an administrative step to match bond authority to the FY26 adopted budget and earlier appropriations: "Although [the…
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