Staff urges council to position for May 2027 GO bond election to fund capital needs

City staff told the council they are not recommending immediate borrowing but asked members to begin positioning the city for a potential May 2027 general obligation (GO) bond election.

"The recommendation before council tonight is not to issue debt immediately but...we are hoping that we can do that in May 2027," said the presenting staff member, urging formation of a bond committee to test project lists and serve as community ambassadors. Staff said the committee would include council appointees and community members to help ensure ballot propositions reflect voter priorities.

Staff laid out the rationale: debt that rolls off in 2027, 2029 and 2031 creates capacity to take on new debt without increasing the I&S (interest & sinking) tax rate. They presented a preliminary needs estimate of roughly $27–$32 million in GO projects plus about $12 million in future COs (certificates of obligation), and explained the operational choice between GO bonds (voter approved) and COs (council approval) when timing or urgency requires faster action.

Council members discussed timing and outreach, with several saying they preferred a May election to avoid potential legislative changes next year and to target a known municipal electorate. One member said a May contest is easier to plan for community education; another cautioned staff cannot campaign but can provide factual education.

Council provided general consensus direction to staff to proceed with planning and to return with bond committee details and project prioritization, with formal calendar and legal steps to be developed by bond counsel.