Parking Facilities Revenue Note

At a glance

• What: Two linked consent actions on the Parking Facilities Fund's revenue anticipation note (RAN) backed by Public Works Traffic Division revenue.
• Status: Both adopted unanimously on the consent agenda August 24, 2026.
• Next: Principal payment and note renewal by the Chief Administrative Officer.

Detail

Item 6.3: budget amendment to the Traffic Fund (264); the Public Works Director may move $500,000 into the Parking Facilities Fund (265) to pay down RAN principal, and the Chief Administrative Officer may make a principal-only payment of $820,284. Item 6.17 (Board of Finance resolution): renewal of the existing RAN for the Parking Facilities Fund, not to exceed $2.5 million at an interest rate not to exceed 7.5%.

Sources

• City Council minutes, August 24, 2026: https://burlingtonvt.api.civicclerk.com/v1/Meetings/GetMeetingFileStream(fileId=20872)
• 2026-09-28 - Board of Finance (video, auto-captions)

Log

2026-08-24 - City Council

Consent items 6.3 and 6.17 adopted.

2026-09-28 - Board of Finance

Separate seven-year garage repair financing discussed alongside paying down the note; see Parking Garage Repair Financing.