Finance staff presented the required debt obligation report and the City Council voted to receive it on Dec. 4.

Miss Niswander said the city sold bonds (series 2025) dated Nov. 21, 2025, in the amount of $10,525,000 with a true interest cost (TIC) of 3.43849 percent. She said the bonds were sold at a premium of $642,017.70 and that issuance costs totaled $149,003.21. The stated purposes for the bond proceeds included road improvements, fire-station construction, facility renovations, park improvements and the 39 Depot project. Niswander said the city maintained its Moody’s long-term rating of Aa1, which she described as the second-highest rating indicating high credit quality.

The council moved to receive the report and voted 5–0 to accept it.

Why it matters: The bond sale funds several city capital projects; the TIC, premium and Moody’s rating are key metrics for the city’s fiscal position and borrowing cost.

Next steps: The full debt report is in the council packet; staff recommended acceptance and the council received the report.