REPORT TO THE CITY COUNCIL
FROM: SANTINO DANISI, Finance Director
Finance Department
SCOTT L. MOZIER, PE, Director
Public Works Department
SUBJECT
Title
RESOLUTION - Declaring the official intent to use proceeds of future indebtedness to reimburse the City for certain expenditures related to capital costs of Pave More Now, Pay Later Program (Requires 5 Affirmative Votes).
Body
RECOMMENDATION
Staff recommends that City Council adopt a Resolution declaring the City's official intent to use the proceeds of indebtedness to reimburse certain expenditures related to the capital costs of Pave More Now, Pay Later Program (Project).
EXECUTIVE SUMMARY
The City of Fresno will undertake plans to address broader road infrastructure challenges by addressing needs through immediate paving and repairs. This work will be financed through bonding anticipated to occur in FY 2026 with projects to be constructed over three fiscal years FY 2026-FY 2028. Staff expects the majority, if not all of the work to be expended and performed in the first two years.
The paving season has already begun for 2025. It is imperative to authorize this Resolution to take advantage of the current paving season, which usually ends in the fall, depending on weather. If this Resolution is not approved, paving and work will not be able the start until the 2026 paving season. Authorizing this Resolution allows staff to take advantage of the 2025 paving season and allows the much needed paving projects to be addressed.
To enable immediate and preliminary work and in accordance with federal regulations the City is required to declare its official intent to reimburse prior expenditures for the Project with proceeds of a bond issuance. The proposed resolution meets that requirement and allows staff to begin design with the potential and option for physical construction by the end of 2025.
BACKGROUND
In FY 2022, the City completed a pavement management program update and provided a works...
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