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Council authorizes staff to proceed with bond financing plan for new public safety facility at the fairgrounds
Summary
Council held a public hearing and unanimously adopted resolutions authorizing staff to pursue bond issues to finance a consolidated public safety facility: roughly $55 million in construction plus soft costs (total project budget about $71M) to be financed with sales‑tax (Measure H) bonds and lease‑revenue bonds, with estimated annual debt service built into the 2026–27 forecast.
The City Council held a public hearing and adopted resolutions allowing the city to proceed with a split bond financing plan for the new Petaluma Public Safety Facility at the fairgrounds.
Assistant City Manager Brian Cochran (speaker 36) said the proposed construction budget is $55 million and the overall project budget including design and site work is about $71 million. The recommended financing package splits the construction borrowing into two fixed‑rate 30‑year issuances: a sales‑tax bond for roughly $31 million secured by the city’s…
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