Title
Consider/Discuss a Potential 2024 Municipal Bond Election
Summary
COUNCIL GOAL: Operational Excellence & Financially Sound Government
MEETING DATE: September 5, 2023
DEPARTMENT: City Manager’s Office
CONTACT: Paul Grimes, City Manager
Trevor Minyard, Director of Strategic Services
RECOMMENDED CITY COUNCIL ACTION: no action - discussion and information only
ITEM SUMMARY:
• During the Fiscal Year 2023-24 budget deliberations, members of the City Council requested a work session to be scheduled to review the potential of a 2024 Municipal Bond Election.
• The attached presentation is intended to introduce the City Council of what steps are recommended for the calling of a bond election. In addition, the corresponding financial estimates associated with such a decision are included for discussion.
BACKGROUND INFORMATION:
• In 2019 the voters of McKinney elected to approve approximately $350 million of general obligation bonds for a variety of projects in McKinney. These projects included public safety facilities, municipal complex funding, parks and recreation funding, streets funding, and public works funding.
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION: N/A