The Committee of the Whole reviewed an ordinance authorizing the issuance of general obligation limited tax bonds not to exceed $500,000 (Series 2026) to fund capital projects and equipment.

A council member explained the city regularly issues such bonds every three years for capital needs and recalled prior use of about $318,000 from a previous authorization. The presenter emphasized these bonds are paid directly from a tax levy the council already approved, distinguishing them from alternate revenue bonds.

The transcript shows explanation and questions but does not include a recorded vote or final action on the ordinance within the provided excerpt. Further action or formal adoption would be expected at a subsequent voting meeting unless the council moves this item to a voting session.