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Assembly introduces ordinance to adjust bond refinancing schedule with Alaska Municipal Bond Bank
Summary
The Juneau City and Borough Assembly on Jan. 23 introduced Ordinance 2025-12 to amend Ordinance 2024-42, adjusting maturity years to match Alaska Municipal Bond Bank’s consolidated December payment dates; the measure was introduced by unanimous consent and set for public hearing at the next regular meeting.
The Juneau City and Borough Assembly introduced Ordinance 2025-12 on Jan. 23, an amendment to Ordinance 2024-42 that adjusts maturity years to match the Alaska Municipal Bond Bank’s decision to consolidate principal payment dates in December.
City staff said the amendment is necessary because the Alaska Municipal Bond Bank is consolidating principal due dates from March to December and that change alters the years of maturities on the city's outstanding issuances. Ordinance 2024-42 originally authorized issuance of up to $13,500,000 in bonds to refinance or refund the 2014A port bonds, 2015 harbor bonds and 2021 port bonds.
City staff recommended the ordinance be introduced and set for a public hearing at the assembly’s next regular meeting. Assembly member Gattis moved to introduce the ordinance and asked for unanimous consent; the mayor announced no objections and the ordinance was introduced and scheduled for public hearing.
City staff emphasized that this was an introduction only and that the assembly will take public testimony at the scheduled hearing. The ordinance language and the refinancing schedule change are intended to align local maturities with the Alaska Municipal Bond Bank’s consolidated calendar and to reflect the bank’s revised principal-payment timetable.
