Laserfiche WebLink
15 | Page <br />Debt Service <br /> <br />The city issued new debt in 2025 which we will begin paying on in 2026. The 2026 levies <br />necessary to pay for existing debt are as follows: <br /> 2025 2026 $ Change % Change <br />2014A 183,304 183,829 525 <br /> <br />2016A 186,899 186,164 (735) <br />2017A 362,868 328,218 (34,650) <br />2018A 128,258 125,139 (3,119) <br />2019A 294,618 290,418 (4,200) <br />2021A 1,022,885 1,019,630 (3,255) <br />2022A 279,523 279,510 (13) <br />2023A 353,288 354,075 787 <br />2024A 440,086 438,248 (1,838) <br />2025A 212,554 212,554 <br /> $ 3,251,729 $ 3,417,785 $ 166,056 5.1% <br /> <br />Despite some decreases in existing debt payments, the addition of the 2025A bond will <br />cause the overall increase in the debt service levy to be 5.1%. <br />Due to significant investments in infrastructure and buildings in the past 10 years, the city’s <br />debt load is higher than many cities of the same size. This is due largely to not having <br />capital set-asides prior to those projects needing to be completed. <br />As part of the city’s long-term strategic plan, debt issuance will be decreased as a share of <br />all projects by ensuring at least a portion of the funding each year is cash. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />