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Committee flags debt capacity as bond package moves forward
Summary
Committee members reviewed a proposed capital/debt package and were urged to prioritize projects; staff warned the city is approaching debt-service capacity and highlighted projects such as Jackson Plaza demolition, a public safety complex, Madison lease obligations and stormwater needs.
Staff presented the committee with the latest project list and urged caution as the city approaches its debt-capacity threshold.
Paul, a committee member presenting financial-health context, said the city—s debt-service-to-revenue ratio is currently about 18–19 percent and estimated near-term debt capacity of roughly $30 million under current assumptions. Staff and committee members…
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