General Obligation Bond Issuance
At a glance
- What: Ordinance O26-30 authorizes issuing up to $33.5 million in general obligation bonds from voter-approved authorization.
- Where it stands: Adopted 6-0 on August 25, 2026 (one member absent). The ordinance only authorizes issuance; timing is up to staff and the underwriter.
- Next: Actual bond sale at a time chosen by staff and the underwriter.
Details
- Gibson: the bonds draw on five voter-approved categories: public safety, government facilities, streets, open space and trails, and flood control, for eligible capital projects and issuance costs. Presenters also included RBC Capital Markets and Greenberg Traurig.
- Mayor Weiers asked whether current markets make it a good time. Gibson said the ordinance only authorizes issuance and staff and the underwriter would choose the time.
- Motion by Vice Mayor Malnar, seconded by Guzman. Aye: Weiers, Malnar, Conchas, Guzman, Tolmachoff, Turner; absent: Baldenegro. Passed 6-0.
Sources
- City Council regular (voting) meeting minutes, August 25, 2026: https://destinyhosted.com/agenda_publish.cfm?id=45363&mt=all&get_month=8&get_year=2026&dsp=min&seq=6143
Log
2026-08-25 - City Council
Ordinance O26-30 adopted 6-0 (Baldenegro absent).