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Council reviews debt schedule; energy project amortized through 2039
Summary
Staff pointed the council to the budget book for debt schedules, noted a loan that drops off in 2027 and said the city's energy project is amortized through 2039 with roughly $1.5 million remaining.
Councilmembers asked for page references for the debt schedule and staff pointed them to the packet (document page 15, local page 12) where each debt piece is listed with its funding source.
The City Administrator said a loan that was discussed will drop off in 2027 and noted that an energy project continues to amortize until 2039. "It is amortize it till 2039... it was, like, 1,500,000 or so," staff said, indicating the remaining principal and schedule. Members asked that staff clarify each debt line item and show what fund (general, water, sewer, streets) pays each obligation.
