13.A.
City Council Meeting - FINAL
- Meeting Date:
- 05/15/2018
- From:
- Rick Tadder, Management Services Director
Information
TITLE
Discussion/Direction on including bond financing for transportation tax projects for the November 2018 election.
STAFF RECOMMENDED ACTION:
Staff is seeking Council direction for including bond financing for the November 2018 election for transportation tax projects.
EXECUTIVE SUMMARY:
Staff will present information on bonding for capital projects and the impact of the sales tax rates, interest earnings, construction inflation, financing costs, and timing of projects.
INFORMATION:
Council will be discussing ballot measures for the November 2018 election during several meeting in the next month. Transportation tax proposals have been provided by the Citizens Transportation Tax Commission which includes congestion relief, Lone Tree bridge, and transit components. The tax proposals did not include bond financing for any of the proposed projects. City staff discussed the importance of bond financing the larger capital projects. Bond financing allows the City to complete projects on an accelerated time frame.
Staff will present comparisons of pay as you go financing and bond financing for a major project and annual projects. A major project is one that the City could not deliver on until substantially all the revenues have been realized or available. Annual projects are those that would be equally expensed over the life of the tax.
Staff will present comparisons of pay as you go financing and bond financing for a major project and annual projects. A major project is one that the City could not deliver on until substantially all the revenues have been realized or available. Annual projects are those that would be equally expensed over the life of the tax.