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Goodyear council authorizes roughly $90 million bond plan for roads, drainage, parks and public safety
Summary
Council approved a resolution authorizing the issuance and sale of General Obligation Bond Series 2026 to fund roughly $90 million in infrastructure and public‑safety projects, delegating sale details to staff and advisors; the measure passed 7–0.
The Goodyear City Council on June 22 authorized the issuance of General Obligation Bond Series 2026 to fund a package of transportation, drainage, parks and public‑safety projects totaling about $90 million.
Interim Deputy Director of Finance Mayotte Bailey told council the bond proceeds are planned to support multiple projects, with staff citing approximately $18 million for McDowell Road improvements, $14 million for the Bullard Wash project, and $38 million for Indian School improvements. The transcript lists "about $37,000" for the Fire Rescue Management Facility; staff indicated this item is part of the bond package and that final spending plans will return to council. Bailey said the issuance will use voter authorizations from prior elections, noted high credit ratings (S&P AA+, Moody's Aa1) and estimated an interest rate near 5% given the market and ratings.
A council member asked whether purchasing bond insurance to achieve a higher rating would be cost‑effective. Financial advisor Janelle Gold said major bond insurers currently carry double‑A ratings and that buying insurance was not economical for this issue.
The council adopted Resolution No. 2026‑2528 authorizing the sale and delivery of Series 2026 bonds and delegating certain sale decisions to staff, by a 7–0 vote.
Staff said final awarding of bonds, sale method and budget transfers will be completed later under delegated authority and that staff will return for direction before committing proceeds to specific projects.
