Venice council authorizes $17.5M bonds for fire station, EOC and solid-waste facility; staff outlines budget changes

The Venice City Council unanimously approved Resolution 2025-17 authorizing the issuance of up to $17.5 million in Capital Improvement Revenue Bonds to finance a new Fire Station No. 52, an EOC storage facility and a solid-waste recycling and fleet maintenance facility. Finance Director Linda Seni and financial advisor Jeff Larson summarized the financing plan, noting that the debt will be secured by non‑ad valorem revenues rather than property taxes and that the city intends to budget debt service from the one‑cent local option sales tax (the 1¢ sales tax fund) beginning with the first payment in January 2026.

Seni told council the bond will be split for accounting purposes between solid waste revenues (for the fleet/solid-waste portion) and other non‑ad valorem sources and reiterated that property-tax revenues will not be pledged for the debt. Larson said rating agencies had given the city a strong rating for its size, and the city plans a 20‑year term that should save debt-service costs versus a 30‑year issue.

Earlier in the meeting, Finance Director Seni also presented changes to the FY2026 proposed budget since the June workshop. Changes include modest property-tax revenue increases based on updated property values, addition of six certified firefighters/EMS staff (paid from the general fund and supported by increased EMS transport fees), a reduced Seaboard master-plan allocation, and reallocation of the fleet/solid-waste facility into this fiscal cycle’s CIP. Council approved those adjustments unanimously and staff will bring millage ordinances and final budget steps to September hearings.