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Board briefed on $15.8 million borrowing plan including $8.5 million for Underwood Creek daylighting
Summary
Finance Committee previewed an estimated $15.8 million 2026 debt issuance that would include $8.5 million for the Underwood Creek daylighting project; adjustments cited include a $60,000 increase tied to a $1,000,000 budget agreement figure and a $700,000 placeholder to advance a tanker truck purchase.
The Finance and Licensing Committee reviewed a draft 2026 debt issuance estimated at approximately $15,800,000, and President Koleski summarized the committee's discussion for the full board on June 23.
Koleski said the total estimate includes $8,500,000 earmarked for the Underwood Creek daylighting project. Two changes from prior figures were highlighted: the committee substituted a full $1,000,000 budget agreement figure—raising borrowing about $60,000 compared with an outdated quote—and added a $700,000 placeholder to move a tanker truck purchase forward from 2028 into the current borrowing cycle to fully utilize the borrowing opportunity. The formal borrowing resolution is expected to come to the full board at a future meeting.
The board was also briefed on May financial performance, EMS receivables, and capital project summaries; no formal borrowing resolution was considered or adopted at the June 23 meeting.
