HomeMy WebLinkAbout26-0137 - 2026-09-29 - Informal ReportFORT WORTH®
INFORMAL REPORT TO CITY COUNCIL MEMBERS
SUBJECT: 2027 DEBT PLAN - $26 MILLION TAX NOTES, SERIES 2026 - ALEX LAUFER,
FINANCIAL MANAGEMENT SERVICES ASSISTANT DIRECTOR AND BRIT STOCK, DEBT
MANAGER
DATE: 09/29/26 NUMBER: IR 26-0137
TO THE MAYOR AND MEMBERS OF THE CITY COUNCIL
This Informal Report is intended to provide the Mayor and City Council with Financial
Management Services' (FMS) recommendation to advance the planned issuance of
approximately $26.0 million of Tax Notes, Series 2026 to address expedited capital needs,
including critical Fire apparatus, EMS equipment replacement and City vehicles.
Series 2026 Tax Notes Overview
Tax notes are generally issued annually during the third or fourth quarter of the fiscal year
through a competitive sale in the open market. For FY 2026, however, the City advanced its tax
note issuance to the first quarter of the fiscal year to accommodate extended procurement
and delivery timelines, particularly for fire apparatus, EMS ambulances, and vehicle
replacements. Staff recommends similarly advancing the FY 2027 Tax Note issuance to better
accommodate extended purchase -to -delivery timeframes and address other expedited
capital needs.
Tax note proceeds are generally used to finance the replacement of Fire apparatus and EMS
ambulances. A portion of the proceeds will also support vehicle purchases through the City's
Vehicle Equipment Replacement Fund (VERF), as well as the costs of issuance associated with
the transaction.
Tax Note Funded Projects
Fire Apparatus $14.934.449
Ambulance Purchase 6,301,900
Vehicle Equipment Replacement Fund 3,856,160
Estimated Cost of Issuance 907,491
$26,000,000
The Tax Notes will be structured to align with the FY 2027 budget. Staff is currently coordinating
with the City's financial advisors and bond counsel to prepare the necessary authorizing
documents for consideration by the City Council at its October 13, 2026 meeting.
1 of 2
FORT WORTH®
The City anticipates receiving bids on October 29, 2026, with closing and delivery of funds
scheduled for November 17, 2026.
For questions, please contact Alex Laufer, Assistant Finance Director, at 817-392-2268 or Brit
Stocl, Debt Manager, at 817-392-8980.
Jesus "Jay" Chapa
City Manager
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS
2 of 2