Ontario council approves resolutions authorizing up to $330 million in lease revenue bonds after residents press for repayment details
May 09, 2026 | Ontario, San Bernardino County, California
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The Ontario City Council voted unanimously to approve resolutions authorizing the issuance of lease revenue bonds — described in the staff materials as series 2026C (federally taxable) and 2026D (tax-exempt) — after residents urged more fiscal detail during a public hearing.
Chris Robles, a local resident, told the council the package could include up to $330,000,000 in obligations and asked officials to provide ‘‘total repayment costs, including interest, the annual payment obligations, the long-term risks, and what protections exist if economic conditions’’ deteriorate. Robles also said the bond documents he reviewed showed no dedicated reserve fund and allowed the possibility of additional bonds later.
Other members of the public raised related concerns about the multi-decade repayment timeline. One commenter said calculations tied to the bonds’ final maturity could imply much larger cumulative payouts through 2057. Councilmembers moved the item without an extended staff presentation and took an electronic roll-call vote; the motion passed 5-0.
Mayor Paul Leon presided over the hearing. The motion to approve was made from the dais and seconded by Councilmember Perrotta; the record shows the item passed unanimously.
Why it matters: The resolutions authorize the city to use lease revenue bonds as financing tools for capital projects. Such debt can provide up-front funding for infrastructure or development projects but also obligates future budgets to meet annual debt service. Local residents asked the council to publish the total repayment schedule, clarify whether a reserve fund will be established and explain safeguards before the city assumes decades-long obligations.
What the council said it would do next: Council members did not request that the item be continued for additional financial detail at the time of the vote. At the meeting the council approved the authorizing resolutions and moved on to other business.
Action taken: The council approved the resolutions authorizing issuance of lease revenue bond series 2026C and 2026D by a 5-0 vote.
Chris Robles, a local resident, told the council the package could include up to $330,000,000 in obligations and asked officials to provide ‘‘total repayment costs, including interest, the annual payment obligations, the long-term risks, and what protections exist if economic conditions’’ deteriorate. Robles also said the bond documents he reviewed showed no dedicated reserve fund and allowed the possibility of additional bonds later.
Other members of the public raised related concerns about the multi-decade repayment timeline. One commenter said calculations tied to the bonds’ final maturity could imply much larger cumulative payouts through 2057. Councilmembers moved the item without an extended staff presentation and took an electronic roll-call vote; the motion passed 5-0.
Mayor Paul Leon presided over the hearing. The motion to approve was made from the dais and seconded by Councilmember Perrotta; the record shows the item passed unanimously.
Why it matters: The resolutions authorize the city to use lease revenue bonds as financing tools for capital projects. Such debt can provide up-front funding for infrastructure or development projects but also obligates future budgets to meet annual debt service. Local residents asked the council to publish the total repayment schedule, clarify whether a reserve fund will be established and explain safeguards before the city assumes decades-long obligations.
What the council said it would do next: Council members did not request that the item be continued for additional financial detail at the time of the vote. At the meeting the council approved the authorizing resolutions and moved on to other business.
Action taken: The council approved the resolutions authorizing issuance of lease revenue bond series 2026C and 2026D by a 5-0 vote.
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