F. Long-Term Debt and Liabilities (Continued)

City Council · 2026-04-21 · agenda_item

The City of West Melbourne is reviewing its long-term debt and liabilities, specifically focusing on pledged revenues for water and sewer debt. This includes the Water and Sewer Series 2024D, which has a principal amount of $97,402,650 and matures in 2054. The city also has lease agreements for police vehicles and office equipment, with future payments totaling $25,934 through 2028. Additionally, the city has agreements for cell tower space expiring in 2031. This review is part of the city's ongoing financial planning and is currently under review. The work related to this item involves financial reporting and debt management, with potential future needs for financial services, legal counsel, and administrative support. Businesses specializing in financial consulting, legal services, and administrative support could find opportunities by engaging with the city early in its review process.

Water and Sewer Series 2024D principal

97,402,650 $

Water and Sewer Series 2024D net revenues

7,614,024 $

Water and Sewer Series 2024D pledged principal

2,488,500 $

Total future lease payments

25,934 $

Office equipment lease annual payments

700 $

Office equipment lease annual payments

1,600 $

Total annual rental for leases

15,210 $