More than $447 million in projects are under consideration, but city officials aim to fund no more than $400 million through bonds over the next five years. The committee will help select projects to be funded by bond dollars so expenses do not exceed $400 million.
The approach
Assistant City Manager Karla Stovall told the council they had three options to fund a number of projects through bonds.
They could call an election to issue general obligation bonds, issue certificates of obligation bonds or a combination of the two to fund a variety of projects throughout the city.
Paying for projects through certificate of obligation bonds does not require an election.
Council members opted for the hybrid approach, which would use certificate of obligation bonds for critical infrastructure and public safety projects, while the general obligation bonds would fund quality of life projects, such as parks and recreation.
A general obligation bond election could be called in November 2026 under this approach.
The specifics
The certificate of obligation bonds could fund items such as annual street maintenance and improvements, a public works fuel center and administration building, as well as information technology projects like expansion of Wi-Fi services downtown.
If approved by voters, general obligation bonds could pay for such projects as the downtown square reconstruction, Ousley Park construction and park land acquisition.
What they’re saying
Mayor Ryan Tubbs said at the meeting he supported calling a bond election to fund all of the projects selected by the committee. He said he didn’t want to issue so much debt without voter approval.
“I don't want to subvert the voters,” Tubbs said. “Our kids are going to be paying that debt down.”
Council member Brandon Grumbles said he worried about leaving the funding of some of these projects to a bond election. This is because the city would be prohibited for three years from issuing certificate of obligation bonds for the projects that were up for election, per state law.
Grumbles worried that critical infrastructure and public safety projects could get delayed by three years if they weren’t approved by voters in a bond election.
What’s next?
The committee will begin meeting in the winter or spring of 2026, according to city documents. It will make a recommendation for how the different projects could be funded at the council’s regular meeting in July 2026.
At its regular August meeting, council could vote to call a bond election for November 2026.
