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Commission authorizes up to $150M certificates of obligation to fund public‑safety building, roads and parks
Summary
The commission approved delegation to sell up to $150 million in certificates of obligation to accelerate construction of a public‑safety facility and multiple capital projects; staff and the city’s financial advisor presented pro formas showing conservative assumptions and a possible tax impact of roughly 2¢ under conservative scenarios.
At the Sept. 2 meeting, the commission considered and approved a delegation ordinance to authorize the sale of up to $150,000,000 in combination tax and revenue certificates of obligation (series 2025A) to fund capital projects including a public‑safety facility, roadwork, parks and airport improvements.
Alan Gard framed the request as a response to potential state legislation that could limit the annual amount of debt cities can issue. Gard said delaying could…
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