Advisors present Village of Jackson’s $7–8M preliminary borrowing plan for 2026

Village municipal advisors presented the village’s preliminary 2026 financing plan at the Feb. 10 meeting, outlining proposed borrowing for the capital improvement program and the next steps before a final sale.

The advisor described a financing package that at this stage totals roughly $7–8 million split among general obligation notes (about $3,000,000), revenue bonds for water and sewer projects (roughly $3,000,000–$3,700,000 depending on final sizing), and about $1,500,000 expected from grants, aids and available cash. The advisor said the village may issue two separate issues (GO notes and revenue bonds) to preserve flexibility and explained that issuing revenue bonds would require funding a debt service reserve, which they estimated could add roughly $194,000 to issuance needs.

The presentation included estimated issuance expenses (bond counsel, disclosure counsel, rating fees), the underwriter’s takedown, and a sample taxpayer impact table. As an example, the advisor said the 2026 GO notes as currently sized would produce about a $12 annual change for a sample $365,000 property for debt-service obligations associated with those notes. Advisors emphasized these are preliminary estimates that will be refined as project costs are finalized and bidders submit rates; the board was told to expect two further meetings (March 10 and April 14) with April 14 anticipated to include final interest rates and sale details and funds delivery around May 1 if the timeline holds.

Trustees did not take action on the financing at this meeting; the presentation was placed on the agenda to inform subsequent decisions and the board will revisit numbers and potential use of restricted utility funds as staff refines project costs.