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City finance staff cautions against overly large 2026 bond; advises cap near $750 million
Summary
Financial staff told the Audit & Finance Committee that Austin has about $2.4 billion in outstanding GO debt and substantial authorized‑but‑unissued balances, and that adding a new bond program should be limited to roughly $750 million to preserve capacity and delivery. Staff outlined taxpayer impacts under several scenarios and recommended options including delaying to 2028 or a smaller targeted program.
Kim Olivares, director of Financial Services, presented an update on the city’s debt capacity and three bond‑size scenarios at the Audit & Finance Committee on Jan. 14.
Olivares reported approximately $2.4 billion in outstanding general obligation debt and more than $1 billion in authorized but unissued (ABU) debt across prior programs; the largest remaining ABU balance is in mobility and transportation (about $400 million) and affordable housing retains roughly $188 million. Using…
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