Issue $170 million pension refunding bonds to replace 2005 debt
In Plain English
The city owes $148 million on pension bonds issued in 2005 that mature in 2023 and 2034. The refinancing changes payment terms so the city pays debt service a few days before due dates instead of one year in advance. If approved, the city could extend repayment up to 30 years to free up $24 million annually in pension tax revenue for other uses.
Auto-generated summary. Source: official agenda documents.
Votes
To adopt said resolution
7 to 0
Related Items
Receive monthly financial reports for January 2026
Mar 17, 2026
Receive monthly financial reports for December 2025
Feb 17, 2026
Receive monthly financial reports for November 2025 including investments and overtime
Jan 20, 2026
Meet privately with union negotiators to discuss employee contracts
Mar 24, 2026
Approve new 3-year contract with firefighters union covering wages and benefits
Mar 17, 2026
Receive January financial reports and approve updated financial policies
Mar 17, 2026
Meet privately with union representatives to discuss employee contracts
Mar 17, 2026
Amend city staffing list and allocate salary and benefits
Feb 24, 2026
Approve hiring temporary fire department supervisors and add other city positions
Feb 24, 2026
Receive presentation on Rent Board staffing levels and recruitment
Feb 18, 2026