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Early City Council approves depository and water‑revenue bond, sets tax-levy and budget hearings
Summary
At its March 6 meeting the Early City Council approved Resolution 26‑05 (Depository) and Resolution 26‑06 authorizing an amended loan and a water revenue bond, and scheduled public hearings on the FY27 tax levy (April 6) and FY27 final budget (April 21).
The Early City Council voted unanimously March 6 to adopt two resolutions, including an amended loan and water revenue bond, and set two upcoming public hearings on the FY27 tax levy and the final proposed budget.
The council approved Resolution 26‑05, a depository resolution, and Resolution 26‑06, "authorizing and approving an amended and restated Loan and Disbursement Agreement and amended and restated Water Revenue Bond." Both measures passed on roll-call votes recorded as aye by Councilmembers Brandon Scadden, Christine Madden, Xavier Delao, Cory Tiefenthaler and Brian Pickhinke.
The vote on Resolution 26‑06 was moved by Councilmember Brian Pickhinke and seconded by Councilmember Brandon Scadden; the depository resolution (26‑05) was moved by Xavier Delao and seconded by Christine Madden. The meeting record indicates all votes were affirmative and the motions carried.
Council also scheduled two public hearings related to the FY27 budget. A hearing on the FY27 Proposed Tax Levy will be held April 6 at 6:00 p.m. and will be the only item on that meeting's agenda; the hearing was moved by Cory Tiefenthaler and seconded by Brian Pickhinke. The council set a special council meeting and a public hearing on the FY27 Final Proposed Budget for April 21 at 6:00 p.m.; that motion was moved by Brian Pickhinke and seconded by Brandon Scadden.
Why this matters: Resolution 26‑06 references a loan and a water revenue bond tied to the city's water finances; the council's action authorizes the amended agreement and bond instrument for the city to proceed under the terms described in the resolution. The council also established the formal public comment opportunities required for adoption and final budget approval.
Votes at a glance: - Resolution 26‑05 (Depository Resolution): mover Xavier Delao; seconder Christine Madden; roll-call vote — Scadden, Madden, Delao, Tiefenthaler and Pickhinke, aye; outcome: approved. - Resolution 26‑06 (Amended Loan & Water Revenue Bond): mover Brian Pickhinke; seconder Brandon Scadden; roll-call vote — Scadden, Madden, Delao, Tiefenthaler and Pickhinke, aye; outcome: approved. - Hearing set: FY27 Proposed Tax Levy — April 6, 6:00 p.m.; outcome: hearing scheduled. - Hearing set: FY27 Final Proposed Budget — April 21, 6:00 p.m.; outcome: hearing scheduled.
The meeting record does not specify dollar amounts for the loan or bond, bond terms, or related financing details; those specifics are not provided in the minutes and are therefore listed as not specified in this article. The council adjourned after the items on the agenda were completed.
