· Related development
$30.31 million street certificate of obligation withdrawn without a vote while the annual audit is under way
At its February 10, 2026 meeting the council approved about $11 million in debt for a fire truck and water and sewer projects. A certificate of obligation of up to $30,310,000 for streets and related infrastructure was withdrawn; news reports called it tabled, and the minutes record that the item "was not taken up," with no vote. Officials said the City was undergoing an audit and wanted to see whether it had money on hand to use instead of borrowing.[1][2][3]
What the sources say
- ✓ Verified
The City's notice of intention set the February 10, 2026 meeting to consider Series 2026A certificates of obligation not to exceed $30,310,000 for park and recreation facilities and street improvements, with estimated combined principal and interest of $43,883,993.[2]
- Not to exceed
- $30,310,000
- Est principal and interest
- $43,883,993
- ✓ Verified
The council tabled the roughly $30 million certificate of obligation; officials said the City was undergoing an audit and wanted to see whether it had money on hand to use instead of borrowing, and that the money was not needed until the summer budget process. The same day the council approved about $5 million for a fire truck and about $6 million for water and sewer projects.[3]
- ✓ Verified
Councilmember Don Tipps: Councilmember Don Tipps compared a certificate of obligation to a credit card, saying the City was locking in costs because it lacked the cash to pay outright.[3]