News Story

At the January 13 City Council meeting, City Council approved two bond-related actions that support essential public safety needs while strengthening the Town’s long-term financial position.

Council approved financing to support the replacement of critical Fire Department equipment, including a new fire apparatus to replace Quint 102 and an Airport Rescue Fire Fighting (ARFF) vehicle at Addison Airport. These purchases were previously identified through the FY 2026 Capital Improvement Planning process and are included in the adopted budget, with the ARFF portion funded through the Airport Fund.

Council also approved the refinancing of existing Town debt to take advantage of favorable market conditions. This refunding of prior General Obligation bonds and Certification of Obligation will generate $1.64 million in interest savings over the remaining life of the debt.

Both actions reflect careful financial planning and were supported by the Town’s continued strong credit ratings from Standard & Poor’s and Moody’s.

You can watch the bond discussion here and read the presentation here.