TO: Mayor and Members of City Council
THRU: Dr. Douglas J. Hewett, ICMA-CM - City Manager
FROM: Tiffany R. Murray, MBA, CLGFO - Chief Financial Officer
DATE: January 12, 2026
RE:Title
Adopt Resolution Providing for the Sale and Issuance of $ 40,000,000 General Obligation Public Improvement Bonds Series 2026 Non-Taxable for Public Infrastructure ($25 Million) and Public Safety ($15 million)Title
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COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
Goal 4: Desirable Place to Live, Work and Recreate
Executive Summary:
Council is asked to approve the following resolution:
RESOLUTION PROVIDING FOR THE SALE AND ISSUANCE OF $40,000,000 GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS SERIES 2026 NON-TAXABLE
This resolution will start the process to provide funding and/or reimbursement (for projects already completed) to the City for the following projects as attached.
Background:
In November 2022, Fayetteville voters passed a $97 million bond referendum to authorized bond issuances including $60,000,000 for Public Safety, $25,000,000 for Public Infrastructure, and $12,000,000 for Housing Affordability. This will be the first issuance of debt to provide project funding. Most of the projects have been appropriated in advance of the bond issuance, and construction activities have been underway for many projects.
Issues/Analysis:
None - This is the first tranche of the $97 million bond referendum
Budget Impact:
None - The Public Safety and Affordable Housing portions of the 2026 Bonds (as well as future Public Safety tranches) will be repaid from an internal property tax rate allocation of approximately 1.60 cents plus any interest earnings. The Public Infrastructure portion will be repaid by the City’s $20 motor vehicle license fee plus any interest earnings.
Options:
1. Adopt resolution as is to provide cash flow to the Public Improvement bond projects
2. Do not adopt resolution and provide guidance to staff
Recommended Action::Recommended Action
Staff recommends the adoption of the resolution as presented.
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Attachments:
Issuance Resolution
Fayetteville 2026 GO Financing Calendar
Public Safety Project Listing
Public Infrastructure Project Listing