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Lincoln reviews ordinance to issue up to $500,000 in general obligation bonds

Lincoln Committee of the Whole · December 24, 2025

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Summary

Council discussed an ordinance authorizing not-to-exceed $500,000 general obligation limited tax bonds (Series 2026) to fund capital projects and equipment; a council member noted the bonds are repaid by a tax levy previously approved by the council and described past usage of about $318,000.

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.