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Stonecrest officials say audits block immediate resurfacing bonds; staff to revisit for FY27
Summary
Officials told the TIPS Committee that outstanding financial audits prevent the city from issuing municipal bonds now; staff recommended budgeting for a fresh pavement assessment in FY27 and revisiting bonding once audits are cleared.
The Stonecrest TIPS Committee discussed whether municipal bonds could finance a larger, faster resurfacing program, but staff told the committee the city cannot issue bonds at present because of outstanding financial audits.
Deputy City Manager McCoy said the city lacks the audit clearance necessary to pursue bonding. "As it relates to bonding at this particular time, there's not an…
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