Ramona tells commission Dothan remains well under constitutional debt limit

Ramona summarized the city’s long-term obligations and fiscal posture, saying outstanding debt as of Oct. 1 will be about $150,644,560 and that the city remains well under the constitutional debt limit of $248,000,000. She said the city’s fund balances and reserves strengthened the city’s credit rating and helped secure favorable borrowing terms in past financings.

Ramona noted that without issuing additional debt and assuming scheduled payments, the city’s final debt payment is currently scheduled for 2046 and that several bond issues will be paid off by 2030. Commissioners thanked staff for presenting the financial outlook and raised follow-up questions about timing for future capital borrowing.