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Franklin reports $104 million G.O. bond issue; FY27 debt service to peak near $25.9 million
Summary
City staff told the Budget & Finance Committee the city closed $104 million in general obligation bonds in March, bringing outstanding G.O. debt to about $222 million and projecting FY27 debt service near $25.9 million (with approximately $21 million covered by property-tax revenues); water and sewer debt remains separate at about $122 million.
City finance staff presented a multi-part debt-service briefing on April 13, explaining recent bond activity, the interaction between general-obligation and utility revenue debt, and the schedule of upcoming debt-service obligations for fiscal 2027.
Michael Walters and finance staff said the city closed a $104 million general-obligation bond issue in March and repaid about $13 million of principal during the year; the net result leaves roughly $222 million of outstanding G.O. debt. Staff said water and sewer utility debt totals…
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