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Alpine council approves $927,000 limited tax note to fund pool, park lighting and repairs after split vote
Summary
The city approved Ordinance 2026-03-05 to issue limited tax notes totaling $927,000 to finance pool repairs, park and baseball lighting and issuance costs; the vote was 3–2 after debate over fund‑balance transparency and capital prioritization.
The Alpine City Council approved Ordinance 2026-03-05, authorizing the issuance of the City of Alpine limited tax note series 2026 in the aggregate principal amount of $927,000. City Manager Henry said proceeds will finance the public pool repair and rehabilitation, baseball and park lighting upgrades and costs associated with issuance. The proposed note carries an approximate interest rate of 4.75% and matures April 15, 2033; it may be prepaid without penalty.
Council Member Stevens opposed the ordinance, citing fiscal caution and a desire to see current fund-balance figures and an approved capital-improvement prioritization before incurring new debt. “I’m a nay on this. I’m still waiting to see what our fund balance is,” Stevens said, and asked staff to present auditors’ and fund-balance details before approving additional long-term borrowing for other infrastructure projects.
City Manager Henry and the city’s financial advisor defended the transaction as consistent with the city’s balance-sheet position and the short seven‑year structure of the note. The financial advisor told council the local bank underwriting the note offered a strong rate and emphasized prepayment flexibility.
Council voted 3–2 to approve the ordinance. The clerk recorded Council Members Patio, Martinez and Esco voting in favor; Council Members Rukus and Stevens voted against the measure.
Votes at a glance: - Ordinance 2026-03-05 (Limited Tax Note Series 2026): Approved 3–2 (Patio, Martinez, Esco — yes; Rukus, Stevens — no). Aggregate principal: $927,000. Interest ~4.75%. Maturity: April 15, 2033. - Ordinance 2026-04-01 (Parks & Recreation code amendments): Approved unanimously (see separate item). - Ordinance 2026-04-02 (Low-speed vehicle rules): Approved unanimously (amendment to fix a date typo). - Ordinance 2026-04-03 (Rezoning 205 S. Berkeley): First reading approved unanimously. - Ordinance 2026-04-04 (Hotel-occupancy-tax appropriation for property acquisition): Approved unanimously.
Next steps: staff will provide additional audited financial details and fund-balance reporting to council as requested, and the note issuance will proceed with the local underwriter to deliver funding for the listed capital projects.
