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Council discusses bond notice of intent and public-safety building funding as debt-capacity review continues
Summary
City staff briefed the council on long-term debt capacity and the need to issue a bond notice of intent to preserve timing options for the proposed public safety center and street projects; staff recommended setting a higher notice amount to retain flexibility while staff refines project estimates.
City staff sought council direction on timing and size of a bond notice of intent to preserve the city's ability to issue debt for a planned public safety center and street projects.
The city has roughly $7 million set aside toward the public safety project; staff said current cost estimates exceed that amount and that additional borrowing will likely be necessary. Staff reminded council the notice of…
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