Municipal Borrowing Authorization

At a glance

What: Two borrowing resolutions from the Finance Department: short-term Tax and Revenue Anticipation Notes (TRANs) for FY 2026-27, and a $20,000,000 Series C issue of general obligation bonds under Measure T1 (2016, infrastructure and facilities improvements).
Where it stands: Both adopted June 30, 2026, 8-0 with Bartlett absent.
Next: None recorded.

Action Calendar item 43: borrowing of not more than $85,000,000 and sale of FY 2026-27 TRANs. 0 speakers. Motion (Tregub/Humbert) to adopt Resolution No. 72,367-N.S. Ayes: Kesarwani, Taplin, Tregub, O'Keefe, Blackaby, Lunaparra, Humbert, Ishii.
Action Calendar item 44: issuance and sale of $20,000,000 aggregate principal amount of general obligation bonds, Series C (Measure T1), with approval of the official statement. 2 speakers. Motion (Tregub/Blackaby) to adopt Resolution No. 72,368-N.S., same 8 ayes, no noes.
Related consent action the same night: second reading of Ordinance No. 8,022-N.S. set the FY 2027 Measure T1 debt service tax rate at 0.0140%. Contact for all: Henry Oyekanmi, Finance.

In ceremonial matters on June 16, outside counsel Chris Lynch gave Council bond disclosure training, ahead of the bond actions in Infrastructure Bond Ballot Measure and this item.

City Council regular meeting minutes, June 30, 2026 (approved minutes batch): https://berkeleyca.gov/your-government/city-council/city-council-agendas

Resolution 72,367-N.S. (TRANs, up to $85,000,000) and 72,368-N.S. ($20,000,000 Measure T1 bonds) adopted, 8-0.

Bond disclosure training for Council by outside counsel.