Debt Portfolio and Investment Review
Summary
The city's debt has been cut from about $1 billion to $580 million in 15 years, and most of what remains is paid by utility and stormwater customers, not property taxes. But with rapid growth, officials say new borrowing for roads, parks and stormwater projects is coming soon.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed Jul 23, 2026.
Impact analysis
Refunding has saved taxpayers over $100 million to date; an FY 2026 refunding of 2016-17 special assessment bonds will save another $2 million.
All residents benefit from lower debt burdens, rising AA bond ratings, and continued millage rate cuts.
Mentions & discussions (2)
City Council Workshop — July 23, 2026
The city's debt is projected at $765 million by FY27 — but that's still down $277 million from the 2010 peak, and Council pushed back hard on 'record debt' claims. Separately, the ~$600 million investment portfolio is earning well, with the core portfolio yield rising to 3.97% and full policy compliance.
City Council (Work) — March 16, 2026
The city's debt has been cut from about $1 billion to $580 million in 15 years, and most of what remains is paid by utility and stormwater customers, not property taxes. But with rapid growth, officials say new borrowing for roads, parks and stormwater projects is coming soon.
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