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Cape Coral presentation shows capacity for $406M of proposed bonds; council warned of higher annual debt service
Summary
Financial advisers told the Cape Coral City Council a sample plan to issue roughly $406 million in non‑ad valorem bonds over 2026–27 would raise annual debt service from about $18 million today to roughly $36 million at its peak, and that keeping liquidity ratios near current levels will be key to maintaining the city's double‑A2 credit rating.
Cape Coral — Financial advisers opened the City Council’s Jan. 30 budget workshop with a sobering look at the municipality’s borrowing capacity and how proposed projects could change annual debt costs.
Julie Santa Maria of PFM told council members the city now carries about $49 million in general‑obligation debt and roughly $177 million in other governmental debt. Using sample bond issues of about $88 million in 2026 and $318 million in 2027 — a combined example the presentation labeled roughly $406 million — the city’s non‑ad valorem annual debt service could rise from roughly $18 million to a peak near $36 million…
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