Sponsor: Finance
Title
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Resolution Authorizing the 2026A Bond Sale
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Recommendation
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1. Approve the attached Resolution providing for the competitive negotiated sale of approximately $31,500,000 in General Obligation Capital Improvement Plan Bonds, Series 2026A including the terms attached thereto.
2. Authorize a general obligation bond sale of up to $31,500,000 of principal.
3. Set February 9, 2026, as the bond sale and award date for proposals received; Finance will report to the Ramsey County Board on February 10, 2026.
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Background and Rationale
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The 2026 Capital Improvement Program (CIP) Bond ordinance, effective January 10, 2026, allows for the issuance of up to $31.5 million of Capital Improvement Bonds.
Attached is the recommendation provided by the county’s financial advisor, Baker Tilly Municipal Advisors, LLC. The recommendation is for the sale of general obligation CIP bonds, Series 2026A up to $31,500,000, which includes funding for the County’s new/major renovations and maintenance projects. Bid proposals for these 2026A bonds will be received February 9, 2026. The Series 2026A bonds, which will fund the CIP projects, will close on March 12, 2026. The results of the sale of the 2026A bonds will be brought before the Board for consideration of award on February 10, 2026.
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County Goals (Check those advanced by Action)
☐ Well-being ☒ Prosperity ☒ Opportunity ☐ Accountability
Racial Equity Impact
This action by itself does not have a measurable racial equity impact, as the action is just one step in the ordinance process required by the Ramsey County Home Rule Charter to issue bonds. The county plans to issue bonds to finance numerous capital improvement projects, each of which provides programs and services to the community. The racial equity impact should be considered by the county departments during the development of the associated programs and services for each capital project.
Community Participation Level and Impact
Ramsey County issues bonds to finance capital improvements identified in its annual capital improvement plan which is developed with public participation through the Capital Improvement Program Citizen’s Advisory Committee (CIPAC), an advisory committee comprised of 14 residents, appointed by the Ramsey County Board, to assure public participation in the decision-making process. CIPAC reviews, rates, and recommends capital improvement projects. The Ramsey County Board also held a public hearing on November 4, 2025, as part of the proposed CIP Bond Ordinance process to afford the public an opportunity to comment on each proposed project. No public comments were brought forth. Direct community participation should be incorporated through the county departments in the development of the programs and services associated with each capital project.
☒ Inform ☒ Consult ☒ Involve ☐ Collaborate ☒ Empower
Fiscal Impact
The projects and financing are authorized in the 2026 CIP Budget and Financing Plan. The debt service required is included in the proposed 2026 budget.
Last Previous Action
On November 4, 2025, the Ramsey County Board waived the second reading of the 2026 Capital Improvement Program bond ordinance and held a public hearing (Resolution B2025-199).
On October 14, 2025, the Ramsey County Board waived the first reading of the proposed 2026 Capital Improvement Program Bond Ordinance and set the date of the Public Hearing for November 4, 2025 (Resolution B2025-193).
On April 4, 2025, the Ramsey County Board adopted the Enterprise Resource Planning Bond Reimbursement establishing procedures relating to compliance with reimbursement bond regulations under the Internal Revenue Code. (Resolution B2025-063).
Attachments
1. 2026A Pre-Sale Summary for Issuance of Bonds from Financial Advisor, Baker Tilly Municipal Advisors, LLC.
2. 2026 Capital Improvements Projects
3. Resolution Providing for the Competitive Negotiated Sale of Approximately $31,500,000 General Obligation CIP Bonds, Series 2026A
4. Proposed Schedule - 2026 Capital Improvement Program Bond Sale