SPECIAL TOWN COUNCIL MEETING
SUPPLEMENTAL STAFF REPORT
SUPPLEMENT TO SPECIAL AGENDA ITEM #4
MEETING DATE January 10, 2024
PREPARED FOR: Mayor and Town Council
PREPARED BY: Heather Abrams, Town Manager and Michael Vivrette, Finance Director SUBJECT: Supplemental to Agenda Item #4: Discuss and Consider Bond Measure for Road Repairs and Provide Direction to Staff.
RECOMMENDATION
Consider additional materials, including a Measure K Bond Summary, and a Project Completion List as of 2009 as part of Agenda Item #4 regarding previously passed Measure K Bonds.
ATTACHMENT
Measure K Bond Summary
Project Completion List as of 2009
MEASURE K BOND SUMMARY
ISSUER DATE DESCRIPTION
PRINCIPAL
AMOUNT
TO PROJECT
FUNDS
TO DEBT
DEFEASMENT
LAST PMT INT RATE
PROJECTED
COST
ACTUAL
COST
11/2/1999 VOTER AUTHORIZATION 6,830,000
TOWN 5/24/2000 GO BONDS , SERIES 2000 * 2,065,000 1,969,188 8/1/2025 5.25%-6.1% 4,384,933 1,104,255 TOWN 6/27/2002 GO BONDS , SERIES 2002 ** 3,000,000 2,890,000 8/1/2027 4.0%-4.9% 2,750,264 1,705,342 TOWN 8/2/2006 GO BONDS , SERIES 2006 *** 1,765,000 1,765,000 8/1/2027 3.73%-3.96% 3,024,445 1,302,308 FFA * 8/28/2008 2008 GO REFUNDING BOND 2,231,000 158,050 1,977,600 8/1/2025 1.5%-4.7% 3,271,159 3,271,159 FFA ** 3/1/2012 REVENUE BONDS, SERIES 2012 2,880,000 185,469 2,772,800 8/1/2027 2.0%-3.0% 3,541,436 3,541,436 TOWN *** 3/24/2016 2016 GO REFUNDING BOND 1,239,000 - 1,239,000 8/1/2027 2.10% 1,405,470 1,405,470 6,967,706 12,329,970
FFA = FAIRFAX FINANCING AUTHORITY
ISSUER DATE DESCRIPTION
PRIN BAL
6/30/23 FY24 FY25 FY26 FY27 FY28
11/2/1999 VOTER AUTHORIZATION
TOWN 5/24/2000 GO BONDS , SERIES 2000
TOWN 6/27/2002 GO BONDS , SERIES 2002
TOWN 8/2/2006 GO BONDS , SERIES 2006
FFA * 8/28/2008 2008 GO REFUNDING BOND 640,000 223,270 230,668 232,335 FFA ** 3/1/2012 REVENUE BONDS, SERIES 2012 1,236,500 365,638 250,994 265,738 269,838 273,375 TOWN *** 3/24/2016 2016 GO REFUNDING BOND 599,000 124,393 127,957 126,447 124,917 127,323 2,475,500 713,300 609,618 624,519 394,754 400,698
REMAINING ANNUAL PAYMENT