Board of Finance Meeting; June 15, 2026

The CharmTV Citizens' Hub Board of Finance meeting on June 15, 2026, focused primarily on financial and procurement matters related to the city's water and stormwater utilities. The board reviewed and approved security transactions totaling $385 million in purchases and $778 million in redemptions for the period from March 16 to June 5, 2026. A significant portion of the discussion centered on the issuance of a $275 million short-term bond anticipation note for the water utility, structured as a variable rate tax-exempt debt with an initial indicative rate of 3.14%. Wells Fargo was recommended and approved as the purchaser of the note through a negotiated sale, while M&T Bank was appointed as trustee, registrar, and paying agent for the bonds. The board also discussed recent credit rating downgrades for the water and wastewater utilities and the implications for future financing. The meeting concluded with unanimous approval of the bond issuance and related resolutions, enabling the city to strengthen liquidity and maintain financial flexibility for ongoing capital projects.