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Cap-and‑Stitch decision and scoring reduce 2026 bond capacity, staff says
Summary
City staff told the bond task force that Austin City Councildecisions on the Cap and Stitch roadway coverage will be paid with a mix of a state infrastructure loan and internal capital funds and that using certificates of obligation lowers the recommended 2026 general obligation bond ceiling from about $750 million.
City financial staff told the 2026 Bond Election Advisory Task Force on May 27 that recent City Council action on the Cap and Stitch street coverage plan will be financed with a $41 million state infrastructure bank loan and $63 million in the Transportation and Public Works capital budget, the latter initially backed by certificates of obligation.
The briefing explained why that financing choice affects how much voter‑approved general obligation debt the city can prudently add in 2026. Kimball Avaris, director of Financial Services, said staff and the city's financial adviser analyzed authorized but unissued debt and outstanding…
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