1931 Non-ad Valorem Revenue Note Dispute
Summary
Resolution 2026-13 would authorize the city to issue up to $19.5 million in a revenue note — repaid from specific revenues rather than property taxes. The purpose isn't detailed in the agenda, but it's a major financing action.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed Jul 7, 2026.
Impact analysis
Up to $19.5 million in debt serviced from non-ad valorem revenues, not property taxes.
City capital or utility projects financed by the note would benefit the community.
Critics argue taxpayers bear avoidable interest costs and debt was incurred without a public vote.
Mentions & discussions (2)
Board of Commissioners - Jul 7, 2026
A heated clash over the $19.3 million loan: Commissioner Koulias argued borrowing without voter approval for the fire station and water projects costs $4 million in interest; the mayor and Commissioner Eisner countered the city is earning more interest than it pays, and the loan can't be prepaid until October 2030 anyway.
Board of Commissioners - Feb 24, 2026
Resolution 2026-13 would authorize the city to issue up to $19.5 million in a revenue note — repaid from specific revenues rather than property taxes. The purpose isn't detailed in the agenda, but it's a major financing action.
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