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Council schedules June 25 special meeting to consider City Hall financing notes
Summary
Port Clinton set a special meeting for June 25, 2026, to consider Ordinance 22-26, which would authorize note issuance in anticipation of bonds for City Hall acquisition and renovation; the original note matures July 22 and the city is planning pricing and closing in July.
Port Clinton City Council scheduled a special meeting for 5:30 p.m. on Thursday, June 25 to consider Ordinance 22-26, a financing ordinance authorizing the issuance and sale of notes in one or more series up to a maximum aggregate principal of $1,080,000 in anticipation of bonds for acquisition and renovation of the property at 201 Madison Street (intended for City Hall).
Auditor Gabe Below described Ord.22 as effectively rolling over last year's $1,000,000 principal until the city has a professional renovation plan and cost estimate. Below said the original note matures July 22; pricing is scheduled July 8 with a closing on July 20 to meet the July 22 payoff date. He also reported $206,241 currently available in Fund #784 for ongoing needs at the property.
Why it matters: The ordinance seeks short-term financing flexibility so the city can proceed with renovation planning without forcing an immediate long-term bond or payout. The Finance Committee reviewed the ordinance June 15 and recommended approval.
Next steps: The council will consider Ord.22 at a special meeting on June 25; no final action was taken at the June 23 regular meeting.
Details: The ordinance language references issuing notes in anticipation of bonds for acquiring, reconstructing and renovating facilities for use as a city hall and related city purposes. The council did not discuss specific contractors or renovation cost estimates during the meeting.
