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Council holds and approves public hearing on lease-financing plan payable from property taxes for police and street facilities
Summary
Council opened and closed a public hearing and approved Resolution 2026‑16 making a preliminary determination to enter into a lease payable from ad valorem taxes to finance police facility storage/training and street-department needs; no public comments were offered.
Deb Cook presented background on the preliminary determination to enter a lease (payable from ad valorem property taxes) that could be used to finance police storage and training facilities and street-department maintenance needs. She said the town and building corporation could finance portions of the project through bonds or other funds and that lease payments would be payable from property taxes levied within the town boundaries.
The council opened the public hearing on Resolution 2026‑16; no members of the public spoke and the hearing was closed. A council member moved and the council approved Resolution 2026‑16 by voice vote (recorded at 4–0). Staff identified financial consultants present for questions and said additional details would be available in the project financial package as the matter moves forward.
The resolution established a preliminary need and authority to pursue lease financing; any final financing structure and bond issuance would return to the council for formal approval.
