Subject:
Title
9:00 - 9:15 PM Public Hearing on Bond Ordinance
Body
DATE(S) OF PRIOR COUNCIL CONSIDERATION OF THIS ISSUE:
Sept. 15, 2025 Work Session
Oct. 6, 2025 Set Public Hearing
Oct. 20, 2025 Work Session
Oct. 27, 2025 Council Meeting
EXPLANATION AND SUMMARY:
The Town plans to borrow money for the proposed projects in the 2026 Capital Improvement Plan (CIP). These projects include parks and recreation facility improvements, building improvements, transportation improvements, water and sewer infrastructure investments, and other public improvements. The Town borrows money via the issuance of general obligation bonds. These bonds will be repaid via meals tax revenue and water and sewer fees.
The amount to be borrowed is as follows:
Meals Tax Funded projects: Not to exceed $10,000,000.00
Water and Sewer funded projects: Not to exceed $10,000,000.00
Total Not to Exceed (Including Closing Costs): $20,000,000.00
A public hearing allows Vienna residents an opportunity to comment on the debt issuance. This public hearing was advertised twice in advance in the local newspaper.
Departmental Recommendation: Recommend closing the public hearing and approving the bond ordinance, as presented.
Finance Recommendation: Recommend closing the public hearing and approving the bond ordinance, as presented.
Purchasing Recommendation: N/A
Town Attorney Recommendation: The Town Council may conduct a public hearing to receive input on the proposed bond issuance ordinance and adopt the proposed ordinance in its discretion.
Town Manager's Recommendation: I recommend the Town Council approve the bond ordinance, as presented.
Cost and Financing: Not to exceed $20,000,000
Account Number: various
Prior Funding Approval: Annual General Budget (Year), Amendments, CIP Budget (Year), or ARPA. 2026 CIP Budget
Decision Needed by this date: Nov. 10, 2025
PROPOSED/SUGGESTED MOTION
Recommended Action
“I move to close the public hearing.”
And
“I further move to approve the bond ordinance entitled ‘Ordinance Authorizing the Issuance of General Obligation Public Improvement Bonds, Notes, or Other Forms of Indebtedness of the Town of Vienna, Virginia’; providing for reimbursement to the Town of Vienna, Virginia from bond proceeds; and authorizing the execution and delivery of certain documents related thereto.”
And
“I further move that the Town Clerk and Bond Counsel be authorized to advertise notice of adoption of such bond ordinance.”
Or
Other action deemed necessary by Council.