Fairfax council discusses timing for two bond issues and budget adjustments

Council members reviewed bonding options and the draft budget during the meeting, with finance staff advising that two separate bond issues are probably needed: one in July 2025 and a second in spring 2026. Maggie (finance advisor) presented project lists for each issue and cautioned that issuing bonds affects overall debt capacity.

Projects recommended for the earlier issue include a fire-station addition and partial truck payment (which the fire fund will largely cover) and sewer-line rehabilitation; an intersection realignment and bridge projects were discussed for the later issue. Staff said the intersection project is TIF-eligible and that some projects (such as the bridge) may have federal reimbursements that affect cash-flow timing.

Council discussed scheduling special meetings needed for bonding steps (special meetings noted for May 27 and June 24), whether to delay borrowing in 2027 given debt capacity concerns, and potential trade-offs between borrowing and paying from reserves. Staff said the city can adjust plans if bids come in high or bonding conditions change.

On the draft budget, staff reviewed fund balances (including ARPA and road-use funds), transfers, and the proposed treatment of solid-waste fee changes timed with vendor Republic’s adjustments. Council directed staff to finalize hearing notices and to proceed with the bond timeline as outlined pending review of final numbers and bid results.

Next steps: staff will prepare required notices for the public and proceed with the special-meeting schedule if the council confirms the bond timeline at upcoming meetings.