City Council Meeting
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Resolution Requesting Issuance of Revenue Bonds by the City of Fairfax Economic Development Authority – Up to $54,500,000
1:05:10JC MartinezstaffAnticipated capital expenditures include the following without limitations. Fire, police, and other public safety projects such as Fire Station 3, and Recreation and Cultural Willard Sherwood Community Center. The proposed financing was anticipated in the adopted FY 2025 budget and in the FY 2025 through FY 2029 capital improvement program. Given the city's very strong credit ratings, the 2025 bonds are not expected to require any collateral. And the revenues of the city's general operation subject to annual appropriation shall be pledged as backing for the proposed revenue bond issuance. We do have Austin Sachs from Davenport, Chris Culp, the city's bond attorney, and I are more than willing to answer any questions you may have.