# 2026-10-26 Fiscal Capacity Committee

The City of Phoenix Fiscal Capacity Committee met on November 3, 2026, to review general-obligation bond capacity scenarios following City Council direction to examine funding for water infrastructure. Staff reiterated the committee’s prior $575 million 2028 program recommendation, which assumes no increase to the secondary property tax rate and keeps peak annual debt service at the $145 million benchmark. The discussion emphasized that the committee was assessing borrowing capacity, not deciding how bond proceeds would be spent, and considered project-delivery capacity, operating and maintenance costs, credit ratings, and future bond capacity.

Staff presented options including a separate 2027 water bond of $150 million, $200 million, or $250 million, paired with a later program; moving the $575 million program from 2028 to 2029; and a combined 2028 program of up to $650 million. Members generally favored further consideration of the $200 million/2029 and $250 million/2028 options, while noting trade-offs involving urgency, election timing, and capacity for future programs. No formal vote or contract award was recorded. Staff will refine options 1B and 1C for a follow-up meeting, expected November 10.

**Jurisdictions:** sled
**Industries:** Construction & Infrastructure, Energy & Utilities
**Topics:** Physical Infrastructure
**Published:** November 03, 2026

### Sources
- [2026-10-26 Fiscal Capacity Committee](https://www.youtube.com/watch?v=KPDjmnmGwOc) - CityofPhoenixAZ