Debt service millage rises to fund Turnbull Creek bond; rate jumps about 52%

On Sept. 23 the commission adopted Resolution 30-26, which sets the final voted debt millage (I&S) at 0.1695 mills for fiscal year 2027. Finance Director Drury told the commission the change represents an increase of about 52% over the prior rate of 0.1115 mills and identified two causes: a one-time use of about $640,000 in accumulated debt service reserves in the prior year that is no longer available, and the first full year of debt service on a $5,500,000 general obligation bond issued for the voter-approved acquisition and preservation of Turnbull Creek.

Drury said the fiscal-year 2027 debt service requirement is approximately $1,275,000 and that the proposed millage is expected to generate an estimated tax levy of roughly $1,300,000 (budgeted revenue about $1,275,000 based on a 95% collection rate). The commission discussed the item, including questions about past interest rates and the bond's impact; commissioners then voted and the resolution was adopted unanimously.