May 26, 2026Asheville City Council
From the minutes, not yet reviewedCouncil approves an amendment to an installment financing contract to provide for the financing of additional projects.
Council voted to approve an amendment to an installment financing contract to provide for the financing of additional projects. It also approves the City Manager or the Finance Director to pursue on behalf of the City debt financing for capital projects with a draw program that includes an installment financing and the related issuance of interim Limited Obligation Bonds for construction of various general government capital projects.
- Passed with the routine items, in one vote, without discussion.
- The money, in the minutes' words: “PNC Bank, National Association has agreed to purchase the Bond, and staff is seeking Council approval of the resolution authorizing the installment financing and related issuance of 2026 Interim Limited Obligation Bonds (LOBs) in an amount not to exceed $40,000,000.”
What that means
- Consent agenda:
- Routine items Council approves together in one vote, without discussion. Any member can pull an item out for its own vote.
- Bonds:
- Bonds are loans the City pays back over many years, with interest.
Official title: Resolution approving an amendment to an installment financing contract to provide for the financing of additional projects and authorizing the City Manager or the Finance Director to pursue on behalf of the City debt financing for capital projects with a draw program that includes an installment financing and the related issuance of interim Limited Obligation Bonds in an amount not to exceed $40,000,000 for construction of various general government capital projects
Carried unanimously, as part of the consent agenda
From the minutes: This motion was seconded by Councilwoman Ullman and carried unanimously.
Read the motion as recorded
“Resolution Number 26-100 - Resolution approving an amendment to an installment financing contract to provide for the financing of additional projects and authorizing the City Manager or the Finance Director to pursue on behalf of the City debt financing for capital projects with a draw program that includes an installment financing and the related issuance of interim Limited Obligation Bonds in an amount not to exceed $40,000,000 for construction of various general government capital projects”
Open the minutesConsent agenda, item B