Council hears debt‑financing options and Tyler software updates; staff to parse proposals and file formats
Summary
Staff reported 6–7 RFP responses for financing options (bond anticipation notes, conduit/PBA) and will meet with PFM and outside counsel to compare terms and recommend a course of action. Separately, the city is working through Tyler import/file‑format issues for delinquent tax submission and implementing single‑scan image‑cash‑letter capabilities to streamline payment processing.
City finance staff told council on Nov. 25 that responses to a financing RFP show market interest and a range of competitive terms; staff will convene PFM and counsel (BassBerry & Sims) to produce a digestible comparison and recommendation.
"We did receive submissions from 6 or 7 different agencies," Speaker 4 said, and staff will parse terms and may call a special meeting if timing requires. Staff emphasized the importance of comparing options "apple to apple" before a recommendation.
On administrative systems, staff described ongoing work with Tyler to produce a delinquent property tax file acceptable to Chancery Court; the city also plans to implement an image‑cash‑letter processing step to reduce duplicate scanning of checks and expects a modest recurring cost (staff estimated about $400/year). Reston Access (payment portal) and the ability to import large clerk‑and‑master or tax‑relief files remain items staff continue to address to reduce manual processing.
Council direction: staff will analyze financing proposals with PFM and counsel and return with recommendations; staff will continue to resolve Tyler import and payment‑portal issues and report progress.
