Sponsor: Finance
Title
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Adoption of the 2025 Capital Improvement Program Bond Ordinance
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Recommendation
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Approve 2025 Capital Improvement Program Bond Ordinance, which sets forth procedure for issuance of said bonds.
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Background and Rationale
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The proposed 2025 Capital Improvement Program (CIP) Bond Ordinance includes bond financing for $19.5 million, including $6.5 million for maintenance projects and $13 million for major renovations projects. On December 3, 2024, a public hearing was held to afford an opportunity for the public to comment on the proposed 2025 Capital Improvement Program Bond Ordinance.
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Project financing included in the proposed 2025 Bond Ordinance: |
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2025 Proposed CIP New / Major Renovations Projects |
$13,000,000 |
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2025 Proposed CIP Maintenance Projects |
$ 6,500,000 |
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Total 2025 Bond Ordinance amount |
$19,500,000 |
Ramsey County issues bonds in accordance with Ordinance No. 93-292, adopted on July 29, 1993, which sets forth the procedure for issuing bonds via ordinance in compliance with the Ramsey County Home Rule Charter. The county’s ordinance procedures require every proposed ordinance receive two readings; first, at the time it is presented, and second, at the time of the public hearing. Both readings may be waived if a copy of the ordinance is supplied to each member of the Ramsey County Board prior to its introduction.
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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 December 3, 2024, 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 proposed 2025 Capital Improvement Program Bond Ordinance authorizes a maximum amount of bond issuance to finance the capital improvements identified in the county’s 2025 Capital Improvement Program Budget and Financing Plan. The final bonding amount will reflect any amendments made to the 2025 budget.
Last Previous Action
On December 3, 2024, the Ramsey County Board waived the second reading of the 2025 Capital Improvement Program bond ordinance (Resolution B2024-256) and held a public hearing.
On November 12, 2024, the Ramsey County Board waived the first reading of the proposed 2025 Capital Improvement Program bond ordinance and set the date of the public hearing for December 3, 2024 (Resolution B2024-231).
Attachments
1. Proposed Ordinance for 2025A
2. Proposed Schedule