Use of Certificates of Obligation
Summary
The city initiated the debt issuance process for the Call Street Drainage Project, with financing to be repaid entirely by the Economic Development Corporation sales tax revenues.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed Aug 13, 2026.
Impact analysis
A $9.6 million debt issuance for drainage and street improvements paid through EDC sales tax revenues.
Residents and motorists in the Call Street area experiencing improved drainage and street conditions.
Taxpayers could be liable if the EDC defaults on its debt.
Mentions & discussions (2)
Economic Development Corporation — August 13, 2026
Residents questioned why the city uses certificates of obligation to fund EDC projects, fearing it puts taxpayer money at risk. The board clarified that these are backed by sales tax revenue.
City Council — July 27, 2026
The city initiated the debt issuance process for the Call Street Drainage Project, with financing to be repaid entirely by the Economic Development Corporation sales tax revenues.
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