GO Bond Fiscal Capacity Committee Meeting

The City of Phoenix GO Bond Fiscal Capacity Committee held its kickoff meeting on November 3, 2026, to begin evaluating the city’s capacity and timing for a proposed 2028 general obligation bond program. The committee is advisory and will recommend a program size, considering debt capacity, project-delivery ability, bond ratings, and whether projects from the 2023 program are progressing. Staff described a timeline leading to a prioritized project list for Council in spring 2027, committee review of projects later in 2027, and a potential bond election in November 2028. GO bonds may fund public-purpose capital improvements such as public safety facilities, parks, libraries, streets, storm drainage, and affordable housing. No procurement awards, spending motions, or votes were identified.

Staff reviewed property-tax revenue supporting GO bond debt service and presented baseline, statutory-information-pamphlet, and stress-test valuation scenarios for future capacity analysis. The baseline forecast assumes, among other things, that commercial assessment-ratio reductions stop in FY 2027–28; the stress scenario models a severe downturn, further commercial assessment-ratio reductions, and a collapse in new construction. Staff noted that secondary property taxes can be used only for GO bond debt service, with collections constrained by annual debt service and a reserve allowance of up to 10%. The committee also received presentations on open-meeting requirements and city ethics, including gift and conflict-of-interest rules relevant to members’ participation in future decisions.