Agenda No.
CITY COUNCIL MEMORANDUM
| City Council Meeting: | June 4, 2024 |
| Department: | Finance |
| Subject: | Bond Issuance Timeline Presentation (S.Gonzalez/J.Walters) |
BACKGROUND
Due to a drop in annual debt service payments supported by the I&S Tax Rate, the City can issue additional tax supported obligations to fund some of the City’s Capital Improvement Plan priorities without an impact to the City’s Tax Rate.
The City has anticipated this change and has calculated new debt amounts that will not raise the tax rate and will use it to fund roadway infrastructure projects like Lower Seguin Road and Main Street.
SAMCO’s presentation will show how $20,000,000 of new debt can be supported without an impact to the City’s tax rate and will review the timeline for the issuance.
The City has anticipated this change and has calculated new debt amounts that will not raise the tax rate and will use it to fund roadway infrastructure projects like Lower Seguin Road and Main Street.
SAMCO’s presentation will show how $20,000,000 of new debt can be supported without an impact to the City’s tax rate and will review the timeline for the issuance.