· Peak
Council tables the $30.31 million streets CO; approves fire apparatus and water-sewer debt
At its February 10, 2026 meeting the council tabled Ordinance No. 8236 for $30,310,000 in Series 2026A COs. The same day it approved other debt that is not certificates of obligation: Public Property Finance Contractual Obligations for fire apparatus and Waterworks and Sewer System Revenue Bonds.[1][2][3][4][5]
What the sources say
- ✓ Verified
At the February 10, 2026 meeting, before public comment, Mayor Cole Stanley announced that the item to issue $30,310,000 in certificates of obligation (Ordinance No. 8236) for street projects was withdrawn and tabled.[2][4]
- Max principal
- $30,310,000
- ⚠ Sources differ
Mayor Cole Stanley and unnamed City officials: Reasons reported for tabling the Series 2026A certificates.
Reported value 1[2]
- Value
- not ready
ABC7 (KVII): Stanley gave no details beyond that the council 'weren't ready to tackle it yet.'
Reported value 2[3]
- Value
- public improvement district items not ready
ABC7 (KVII): Stanley said the council could not act on part of the package because of issues tied to public improvement districts, because 'the rest of the bond wasn't ready.'
Reported value 3[4]
- Value
- audit
KFDA: officials said the certificate was not ready because the City was undergoing an audit and wanted to see whether it had money to use instead of borrowing; the money was not needed until summer budget discussions.
- ✓ Verified
Mayor Cole Stanley: Stanley said, "Everything results in a tax increase if we can't work it within the existing budget," and said that if the debt could not be built into the budget the council would vote on it or take it to voters in a bond election.[3]
- ✓ Verified
On February 10, 2026 the City issued $4,515,000 of Public Property Finance Contractual Obligations, Series 2026, for fire apparatus (property taxes) and $5,945,000 of Water Sewer Revenue Bonds (water customer revenues); neither is a certificate of obligation.[5][1]
- Fire apparatus ppfco
- $4,515,000
- Water sewer revenue bonds
- $5,945,000
- ✓ Verified
Councilmember Don Tipps: Councilmember Don Tipps said, "we've got that CO much like the use of a credit card," and said locking in costs was beneficial because the City lacked cash to pay outright but had revenue to make payments.[4]