30-26 CY 2026 Debt Presentation Plan.pdf

Proposed Debt & Capital Plan • The proposed debt plan targets an annual pay-go capital program of $5.5 million per year ($5 million capital and $500k special emergencies), which is expected to be 100% funded by the budget by 2038 with 2% annual increases to debt service in the interim. • For 2025, we included $6.7 million of new debt authorization (ordinance 2915-25) and $800,000 of special emergencies. • From 2026 to 2036, new annual capital needs of $5.5 million would be funded by a mix of debt authorizations, special emergencies and pay-go capital. • In addition, approximately $22.8 million of authorized but not issued bond ordinances will be funded over the next two (2) years by debt issuance. • The proposed future debt issuances include: • Roll existing notes to 2028 • Issue new notes in 2025-2036 to finance "Expected New Debt" • Issue $81.4 million bonds between 2026-2028 to finance all outstanding notes • Roll new notes to 2037 • Issue $14.6 million bonds in 2037 to finance all outstanding notes • Roll SENs with mandatory pay downs and annual new money as shown above • Full migration to pay-go capital funding beginning 2038 10