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Committee sends resolution allowing future reimbursement of 2025 capital spending to council
Summary
The Finance & Taxation Committee voted unanimously to forward a resolution that would let the city reimburse 2025 capital expenditures with future bond proceeds; staff said the resolution does not commit the city to issuing bonds.
The Finance & Taxation Committee forwarded to common council a resolution declaring the city's intent to reimburse certain 2025 capital expenditures with future bond proceeds.
Administrator Wendy told the committee the resolution would cover the approved 2025 capital list but would not itself commit the city to issuing bonds. "It does not commit that we are for sure getting the bonds or proceeding with these purchases," Wendy said, adding the measure is intended to allow reimbursement when bond proceeds are later received rather than relying on the typical 60-day lookback window.
A committee member said the step was recommended by Ehlers, and another moved approval; the motion passed unanimously and the item will move to common council for final action. The recommendation does not obligate the city to sell bonds; any actual issuance would return to council for approval.
Action: The committee recorded the motion to forward the resolution to council; the recommendation will be transmitted to common council for consideration.
