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Home My WebLink About211-26 RESOLUTIONDocusign Envelope ID: 4119F2C6-911 F-8E7A-8147-A511541 E8EFD 113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Resolution: 211-26 File Number: 2026-2901 A RESOLUTION TO APPROVE A BUDGET AMENDMENT IN THE TOTAL AMOUNT OF $176,529,470.00 TO APPROPRIATE PROCEEDS FROM THE 2026 CITY SALES AND USE TAX BONDS BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget amendment, a copy of which is attached to this Resolution, in the amount of $176,529,470.00 to appropriate proceeds from the 2026 City Sales and Use Tax Bonds. PASSED and APPROVED on September 15, 2026 Approved: Ntel� reuuv, Molly Rawn, Mayor TR4�1 `� �� • .....Fy / Attest: � 'G\�Y O"� ;rG =v� FAYETTEVILLE:X= �'•gRkANSP��S� Kara Paxton, City Clerk Treas �i��i,�� GTON /lllllll�� Page 1 Docusign Envelope ID: 4119F2C6-911 F-8E7A-8147-A511541 E8EFD CITY OF FAYETTEVILLE ARKANSAS MEETING OF SEPTEMBER 15, 2026 CITY COUNCIL MEMO 2026-2901 TO: Mayor Rawn and City Council THROUGH: Steven Dotson, Chief Financial Officer FROM: Kevin Springer, Deputy Chief Financial Officer SUBJECT: Council Appropriation of Phase One of the 2026 Sales Tax Bond Program RECOMMENDATION: This request is for the City Council to appropriate $176,529,470 in bond funds for the 2026 Sales Tax Bond Issue, which represents the first phase of the bonds authorized by the voters of Fayetteville. This issue is designated Sales and Use Tax Capital Improvement Bonds, Series 2026. BACKGROUND: On July 7, 2026, the City Council authorized the issuance and sale of up to $191,220,000 of sales and use tax capital improvement and refunding bonds. This will be phase one of the 2026 Sales Tax Bond Issue, and this issuance represents a portion of the bonds authorized by the voters of Fayetteville. A total of $173,960,000 in par value of bonds were sold to provide the necessary funds to complete the projects identified in phase one of the bond issuance. Bonds were offered on August 18, 2026, and purchase agreements were subsequently entered into on that date. The total proceeds generated from those sales were $176,529,464.10, after deducting the cost of issuance of these bonds in the amount of $1,148,787.24 and providing $27,834,772.42 for the liquidation of outstanding debt service requirements for previously issued sales tax bonds. A total amount of $147,545,904.44 was generated for project construction. The administration requests those amounts be appropriated as indicated on the attached budget amendment. DISCUSSION: The amounts appropriated by the specific bond question were determined by first determining the amount generated on the par value sold by question and adding the premium generated by each question and subtracting the cost of issuance and underwriters discount, both of which were allocated based on the total amounts generated by each project question. After transferring the amount of $27,834,772.42 to the debt service fund to liquidate the outstanding sales tax bonds previously issued. The amounts generated for construction for each bond question were as follows: Mailing address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 Docusign Envelope ID: 4119F2C6-911 F-8E7A-8147-A511541 E8EFD Question Two Water/Wastewater System Project Question Three Parks Systern Project Question Four Animal Services Facility Project Question Five Trail Systern Project Question Six Transportation System Project Question Seven Sustainability Project Question Eight Aquatics/Recreation Center Project Question Nine Fire Department Project S 89,005,784.52 1 1,504,499.07 18,249,685.43 1,204,511.88 13,773,155.15 600,211.61 1,003,084.57 12,204,972.21 S 147,545,904.44 BUDGET/STAFF IMPACT: The approval of this resolution will appropriate the proceeds of the bond sale for phase one of the 2026 Sales Tax Bonds approved by the voters of Fayetteville. ATTACHMENTS: 3. Staff Review Form, 4. Budget Amendment Mailing address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 Docusign Envelope ID: 4119F2C6-911 F-8E7A-8147-A511541 EBEFD City of Fayetteville, Arkansas 113 West Mountain Street Fayetteville, AR 72701 (479)575-8323 Legislation Text File #: 2026-2901 A RESOLUTION TO APPROVE A BUDGET AMENDMENT IN THE TOTAL AMOUNT OF $176,529,470.00 TO APPROPRIATE PROCEEDS FROM THE 2026 CITY SALES AND USE TAX BONDS BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget amendment, a copy of which is attached to this Resolution, in the amount of $176,529,470.00 to appropriate proceeds from the 2026 City Sales and Use Tax Bonds. Page 1 Docusign Envelope ID: 4119F2C6-911 F-8E7A-8147-A511541 E8EFD Kevin Springer Submitted By City of Fayetteville Staff Review Form 2026-2901 Item ID 9/15/2026 City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item 8/26/2026 CHIEF FINANCIAL OFFICER (110) Submitted Date Division / Department Action Recommendation: This request is for the City Council to approve a budget amendment for $176,529,470 to appropriate bond funds for the 2026 Sales Tax Bond Issue, which represents the first phase of the bonds authorized by the voters of Fayetteville. This issue is designated Sales and Use Tax Capital Improvement Bonds, Series 2026. 49XX Account Number 4XXXX.7000 Project Number Budgeted Item? No Does item have a direct cost? No Is a Budget Amendment attached? Yes Purchase Order Number: Change Order Number: Original Contract Number: Comments: Budget Impact: 49XX - 2026 Bond Funds Total Amended Budget Expenses (Actual+Encum) Available Budget Item Cost Budget Amendment Remaining Budget Fund 2026 BONDS Project Title $ 176,529,470.00 -76,529,470.00 Previous Ordinance or Resolution # Approval Date: Docusign Envelope ID: 4119F2C6-911 F-8E7A-8147-A511541 E8EFD City of Fayetteville, Arkansas - Budget Amendment/Adjustment (Agenda) tsuaget rear Division tsH Number /Org2 CHIEF FINANCIAL OFFICER (110) 2026 Requestor: Kevin Springer BUDGET AMENDMENT/ADJUSTMENT DESCRIPTION: This request is for the City Council to appropriate $176,529,470 in bond funds for the 2026 Sales Tax Bond Issue, which represents the first phase of the bonds authorized by the voters of Fayetteville. This issue is designated Sales and Use Tax Capital Improvement Bonds, Series 2026. RESOLUTION/ORDINANCE COUNCIL DATE ITEM ID# 9/15/2026 2026-2901 Holly Black 6'/27/2026 71:52 RM Budget Division Date TYPE: D - (City Council) JOURNAL#: G LDATE: CHKD/POSTED: TOTAL 176,529,470 176,529,470 v.2026817 Increase / (Decrease) Project.Sub# Account Number Expense Revenue Project Sub.Detl AT Account Name 3440.001.9440-6884.00 - 27,625,000 RE Proceeds from - Bonds 4904.860.7000-6884.00 - 88,275,000 49040 7000 RE Proceeds from - Bonds 4905.860.7000-6884.00 - 11,410,000 46050 7000 RE Proceeds from - Bonds 4906.860.7000-6884.00 - 18,100,000 49060 7000 RE Proceeds from - Bonds 4903.860.7000-6884.00 - 1,195,000 46030 7000 RE Proceeds from - Bonds 4902.860.7000-6884.00 - 13,660,000 46020 7000 RE Proceeds from - Bonds 4907.860.7000-6884.00 - 595,000 49070 7000 RE Proceeds from - Bonds 4908.860.7000-6884.00 - 995,000 49080 7000 RE Proceeds from - Bonds 4910.860.7000-6884.00 - 12,105,000 46100 7000 RE Proceeds from - Bonds 3440.001.9440-6884.02 - 408,121 RE Proceeds from - Premium on Bond Issue 4904.860.7000-6884.02 - 1,304,127 49040 7000 RE Proceeds from - Premium on Bond Issue 4905.860.7000-6884.02 - 168,607 46050 7000 RE Proceeds from - Premium on Bond Issue 4906.860.7000-6884.02 - 267,245 49060 7000 RE Proceeds from - Premium on Bond Issue 4903.860.7000-6884.02 - 17,274 46030 7000 RE Proceeds from - Premium on Bond Issue 4902.860.7000-6884.02 - 201,877 46020 7000 RE Proceeds from - Premium on Bond Issue 4907.860.7000-6884.02 - 9,077 49070 7000 RE Proceeds from - Premium on Bond Issue I of Docusign Envelope ID: 4119F2C6-911 F-8E7A-8147-A511541 E8EFD Increase / (Decrease) Project.Sub# Account Number Expense Revenue Project Sub.Detl AT Account Name 4908.860.7000-6884.02 - 14,548 49080 7000 RE Proceeds from - Premium on Bond Issue 4910.860.7000-6884.02 - 178,594 46100 7000 RE Proceeds from - Premium on Bond Issue 3440.900.9440-7506.00 198,349 - EX Bond Costs - Issuance 4904.860.7000-7506.00 573,342 - 49040 7000 EX Bond Costs - Issuance 4905.860.7000-7506.00 74,108 - 46050 7000 EX Bond Costs - Issuance 4906.860.7000-7506.00 117,559 - 49060 7000 EX Bond Costs - Issuance 4903.860.7000-7506.00 7,762 - 46030 7000 EX Bond Costs - Issuance 4902.860.7000-7506.00 88,722 - 46020 7000 EX Bond Costs - Issuance 4907.860.7000-7506.00 3,865 - 49070 7000 EX Bond Costs - Issuance 4908.860.7000-7506.00 6,463 - 49080 7000 EX Bond Costs - Issuance 4910.860.7000-7506.00 78,622 - 46100 7000 EX Bond Costs - Issuance 3440.900.9440-5500.00 27,834,772 - EX Principal Payment - Bond 4904.860.7999-5899.00 89,005,785 - 49040 7999 EX Unallocated - Budget 4905.860.7999-5899.00 11,504,499 - 46050 7999 EX Unallocated - Budget 4906.860.7999-5899.00 18,249,686 - 49060 7999 EX Unallocated - Budget 4903.860.7999-5899.00 1,204,512 - 46030 7999 EX Unallocated - Budget 4902.860.7999-5899.00 13,773,155 - 46020 7999 EX Unallocated - Budget 4907.860.7999-5899.00 600,212 - 49070 7999 EX Unallocated - Budget 4908.860.7999-5899.00 1,003,085 - 49080 7999 EX Unallocated - Budget 4910.860.7999-5899.00 12,204,972 - 46100 7999 EX Unallocated - Budget 2of 2