2027 Debt Service Budget
At a glance
Based on uploaded (human-made) captions; staff names are garbled, so staff are identified by role.
- What: the city's debt picture and 2027 debt service levy, presented by the city treasurer.
- Where it stands: presented 2026-10-14; no vote. Debt service levy rises about $3.7 million for 2027.
- Next: closing on state water financing for the Lake McCarrons treatment plant and a lead service line bond issue this year; a 2027 issuance plan of about $15.6 million for the capital improvement program.
Key points
- Total debt about $686.8 million: $258.7 million general obligation and $428.1 million revenue bonds.
- AAA rating from S&P and Fitch; the city's revenue bonds were downgraded last year from AAA to AA+ on revenue changes.
- The increase is the usual $1.5 million step plus about $2.2 million for a roughly $9.5 million judgment bond (a legal settlement) repaid over six years.
- Council President Noecker asked whether the increase could be phased; staff said the debt model would otherwise run negative and the bonds are already issued.
- Each $1 million of ongoing added capital improvement bonding would need about $1.3 million more levy by year ten.
Sources
- 2026-10-14 - Budget Committee (uploaded captions)
- https://stpaul.legistar.com/Calendar.aspx
Discussion time
About 22 minutes across 1 meeting (from transcript timestamps; approximate).
| Meeting | Minutes |
|---|---|
| 2026-10-14 - Budget Committee | 22 |
Log
- 2026-10-14 - Budget Committee - Treasurer's debt, ratings and levy presentation; Noecker questioned the one-year spike from the judgment bond.