Agenda Date: 04/28/2026
Subject:
Title
Long-term Debt Capital Financing Framework Discussion
Body
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From: |
James L. Becklenberg, City Manager |
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Prepared by: |
Laurie Matta, Finance Director |
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Presentations: |
Laurie Matta, Finance Director |
PURPOSE:
To begin the discussion of a financial framework funding of our capital improvement program over a 35-year period using all available cash and debt financial tools. Staff is seeking questions and feedback to refine the draft policy that Council may consider adopting the policy and planning framework subsequently in 2026.
LONG-TERM OUTCOME(S) SERVED:
High-Quality Governance
DISCUSSION:
The City’s current debt management policy provides guardrails for issuing debt but doesn’t provide a plan for working through our capital needs. A comprehensive debt management policy and procedure has been developed and reviewed by the City’s Financial Advisor. Along with the policy and procedure is a presentation showing a plan for potentially funding major capital projects over the next 35 years.
BACKGROUND:
The City has a significant backlog of capital improvements. Council has heard presentations of the need to improve main street, the Belleview service center, town hall and our facilities master plan.
Prior Actions or Discussions
In 2024 the voters approved the capital improvement sales tax (formerly named 3A) to fund necessary capital improvements. One-third of the collections have been informally designed to pay for debt. In September council discussed issuing COPs for our main street, service center and town hall projects. In March council was supportive of moving forward with issuing COPs but requested to see the city’s plan for debt issuances prior to approval.
FISCAL IMPACTS:
N/A
STAFF RECOMMENDATION:
N/A
ALTERNATIVES:
N/A