Summary Sheet- RFCA SUMMARY

CITY OF TEMPE
Meeting Date: 4/16/2026  
REQUEST FOR COUNCIL ACTION
Agenda Item: 8B2
ACTION:  PUBLIC HEARING ITEM Introduce and hold the first public hearing to adopt an ordinance 
providing for the sale and issuance of City of Tempe, Arizona General Obligation Bonds and General 
Obligation Refunding Bonds in one or more series; authorizing the execution and delivery of certain 
documents; providing for the annual levy of a tax for the payment of the bonds; delegating the authority 
to approve certain related matters; and authorizing and ratifying related actions, agreements and 
documents. The second and final public hearing is scheduled for April 30, 2026. (Ordinance No. 
O2026.15)
FISCAL IMPACT:  The amount of the General Obligation Bonds is in an amount necessary to finance 
not to exceed $236,000,000 of capital project program expenditures previously approved by Council.  
The General Obligation Refunding Bonds will be issued in an amount sufficient to refinance the City’s 
outstanding General Obligation Bonds, Series 2015A and Series 2016AB, for debt service savings. The 
debt service on the General Obligation Bonds will be paid out of the Water/Wastewater Enterprise Fund 
for water/wastewater-related projects and the General Obligation Debt Service Fund for all other 
projects.
RECOMMENDATION:  Adopt Ordinance No. O2026.15.
 
BACKGROUND INFORMATION:  The General Obligation Bonds provide financing for 
water/wastewater improvements; street and transportation improvements, including storm drains; public 
safety improvements and acquisition of equipment; park and community services improvements; 
affordable housing and municipal infrastructure improvements in accordance with the authority granted 
at bond elections and in the Council’s approved capital improvement plan. 
The proceeds from General Obligation Refunding Bonds will be used to refund the city’s outstanding 
General Obligation Bonds, Series 2015A and Series 2016AB and must result in net present value debt 
service savings, net of all issuance costs, of not less than 2%. Based on current estimated interest rates, 
the refundings are estimated to save the City and its property taxpayers approximately $873,000 on a 
present value basis, or a 3.96% savings for Series 2015A, and approximately $757,000, or a 2.36% 
savings, for Series 2016AB. (in all cases net of costs of issuing the Bonds). 
RBC Capital Markets, the City’s bond investment bankers, and Greenberg Traurig, LLP, the City's bond 
counsel, have reviewed and approved the attached Ordinance and related documents. The sale of the 
bonds is anticipated to occur in May 2026.
ATTACHMENTS:    
1. TEMPE GO AND GO REF 2026 - BOND ORDINANCE.DOCX
2. TEMPE GO AND GO REF 2026 -- FORM OF CONTINUING DISCLOSURE UNDERTAKING.DOCX
STAFF CONTACT(S):  Laura Calder, Financial Services Director, (480) 350-8504
Department Director:  Laura Calder, Financial Services Director  
Legal review by:  Eric Anderson, City Attorney
Prepared by:  Laura Calder, Financial Services Director