2026 General Obligation Borrowing Plan (Series 2026A, B, C)
Summary
The city's 2026 borrowing list came in far below the roughly $40 million budgeted. This year's borrowing becomes next year's debt payment, and a Moody's credit rating review is set for July.
At a glance
- Total mentions
- 3
- Last 30 days
- 0
Last discussed Jul 21, 2026.
Impact analysis
Borrowing dropped from about $40 million to roughly $22 million, but officials cautioned the savings doesn't mean extra cash on hand.
All taxpayers, since lower-than-expected borrowing means less debt service pressure down the road.
Mentions & discussions (3)
Common Council - Jul 21, 2026
The city is borrowing up to about $22.9 million: $11.8M for capital projects, $7.15M for TID projects, and $3.9M in short-term funds to finish the parking ramp. Only the Municipal Service Center expansion portion is paid over 20 years; the rest is 10-year debt. Sale is expected the week of August 5 with closing September 2.
Finance/Personnel Committee - Jul 14, 2026
The city is borrowing about $22.7 million across three issuances to fund capital projects, TID 17/18 work including the Shopco/Front Street development, and the parking ramp. Debt service stays on a declining trajectory and the city keeps about 50% of its borrowing capacity.
Finance/Personnel Committee - Jun 9, 2026
The city's 2026 borrowing list came in far below the roughly $40 million budgeted. This year's borrowing becomes next year's debt payment, and a Moody's credit rating review is set for July.
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