Joint Special Council/BFPD
09/16/25 05:15 PM
Finance
Sydnie Harris
Bond
Doc ID: 6135
AGENDA ITEM
AGENDA MATTER:
LOCAL MEASURE I TRANSPORTATION SALES TAX REVENUE BOND FINANCING EXECUTIVE SUMMARY:
On August 6, 2025 the City Streets Committee was given a presentation from the Finance Department and a consultant from Urban Futures, Inc. regarding the Cities available options for Capital Improvements Financing. Direction was given to present those options to the City Council to elect which option and give final approval to move forward in procuring the selected financing.
DISCUSSION:
Several financing mechanisms were presented to the Cities Streets Committee which include, Stand-Alone Bond Authority
Property Tax Bonds
Sales Tax Bonds
Leverage through General Fund with Lease Revenue Bonds
Sales Tax
Parcel Tax
Transient Occupancy Tax
Utility Users Tax
Under the Local Measure I Transportation Sales Tax Revenue Bond Financing the City has the option to leverage Measure I sales tax revenue currently received at approximately $2,000,000 annually for an amount estimated to be $14,820,000 at a rate of 3.77%. This option matures in 14 years with an annual debt service of approximately $1.3 million, leaving approximately $700,000 available for maintenance.
FISCAL IMPACT:
If approved, the Local Measure I Transportation Sales Tax Revenue Bond Financing will provide the City of Barstow with the potential proceeds of $14,589,000, with and annual debt servcice of approximately $1.3 million over 14 years.
Joint Special Council/BFPD
09/16/25 05:15 PM
Finance
Sydnie Harris
Bond
Doc ID: 6135
AGENDA ITEM
RECOMMENDED ACTION:
Staff is seeking Council to provide direction on which financing option to pursue so that more information specific to that method can be brought back.