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Finance director outlines debt-levy assumptions; proposed levy up about $55,000
Summary
Finance Director Connie Hillman explained that staff omitted the usual 105% buffer when calculating the debt levy, and under current assumptions—including $50,000 in prepaids and roughly $245,000 in 2026 collections for 2025A bonds—the proposed levy would increase by about $55,000; staff will further review bond-structure options during the budget process.
Finance Director Connie Hillman briefed the committee on debt-levy assumptions and potential bond-structure issues that affect the proposed levy.
Hillman said staff inadvertently omitted the typical practice of budgeting 105% of scheduled bond payments when calculating the levy this year; instead staff assumed 100% of special-assessment collections and…
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