Title
2024 Bond Committee Update and Recommendation
Summary
COUNCIL GOAL: Operational Excellence & Financially Sound Government
MEETING DATE: December 19, 2023
DEPARTMENT: City Council & City Manager’s Office
CONTACT: Dr. John Prudich, 2024 Bond Committee - Finance Committee Chair & Trevor Minyard, Director of Strategic Services
RECOMMENDED CITY COUNCIL ACTION:
• N/A
ITEM SUMMARY:
• This item is intended to serve as a presentation and recommendation from the 2024 Bond Committee regarding the projects, amounts, and timing of a 2024 Bond election.
BACKGROUND INFORMATION:
• In August of 2023 the City Council directed city staff to begin the process of scheduling a work session regarding the status of the 2019 bond dollars, and the future Capital Improvement Program needs for the city.
• On September 5th, 2023, staff presented a CIP and bond finance update to the council and were instructed to begin planning for a 2024 bond committee.
• On September 19th, 2023 the City Council appointed a 36 member bond committee to evaluate, analyze, and recommend projects that should be considered for future bond funding.
• During the months of October, November, and December in 2023 the bond committee members met a total of 4 times and arrived at the final recommendation presented during the December 19th, 2023 Regular Meeting of the City Council.
FINANCIAL SUMMARY:
• N/A
BOARD OR COMMISSION RECOMMENDATION:
• N/A