Council holds first reading on bond ordinance authorizing up to $126 million for capital projects

Solicitor Aubrey introduced ordinance 2026-2 as a first reading on Sept. 2, describing an authorization for general-obligation debt under the Local Government Unit Debt Act with a maximum aggregate principal ceiling shown in the ordinance text.

"This is a first reading of ordinance 2026-2, an ordinance of the county council of the county of Delaware, Pennsylvania, authorizing and directing issuance of general obligation debt in the maximum aggregate principal amount of $126,000,000 as permitted by the local government unit debt act," the solicitor said, reading the ordinance summary. A full ordinance and schedules were made available online and in hard copy for the public.

Kelly Diaz, the county CFO, provided additional context: "This 2026 ordinance would direct the issuance of general obligation debt in the maximum principal amount of $120,000,000 with maturity dates not exceeding 25 years to fund various ongoing and new projects within the county's capital improvement plan." Diaz added the ordinance includes a $6,000,000 authorization to refund earlier 2015 and 2018 notes, and that final pricing, maturities and interest rates will be set within the ordinance parameters and reported to the state Department of Community and Economic Development.

Council members framed the issuance as part of a multi-year capital plan intended to address deferred maintenance and safety issues across county buildings. One council member noted a prior facilities assessment identified more than $300 million in needed repairs; the ordinance as presented sets a ceiling to allow flexibility when market conditions determine final terms. Because this was a first reading, council did not take a final vote on adoption at this meeting; further actions, pricing and potential reductions to the ceiling will follow in later steps required by state law.