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Council hears status report on bond-funded street, drainage and park projects
Summary
Staff updated council on bond-funded capital projects including a $15 million 2021 issuance (with $8M for streets/drainage), $6.4M of park improvements funded from bonds (total program estimate $7.6M), and planned future issuances including a projected $10.1M 2028 bond and recurring tax notes.
City finance and public works staff briefed the council on the capital improvements program and upcoming budget schedule for fiscal 2026–2027. The presenter said the city issued a $15 million certificate in 2021, with about $8 million allocated to street and drainage improvements; the parks program funded through the bonds totals an estimated $7.6 million (about $6.4 million from the bond issue and $1.2 million from other sources). "So far we just spent a little close to 5.5," the presenter said while summarizing expenditures related to the 2025 bond issue and engineering costs.
Staff outlined near-term construction readiness (Highland Shores Boulevard and Highland Village Road projects to bid in the coming fiscal windows), and long-term financing plans including a projected $10.1 million bond in 2028 for streets/drainage and an ongoing tax-note program that would next issue in 2031. Council and staff also reviewed a schedule of upcoming budget sessions and hearings, with the first public hearing for adoption of the budget set for September.
