AMENDMENT

Finance Committee · 2026-06-16 · agenda_item

The City of Jacksonville's Finance Committee is reviewing an amendment to the Commercial Paper Ordinance (2004-884-E). This amendment proposes to clarify that only a part of Section 2.01(b) is changing. It also suggests striking specific text related to Series 2012 Bonds and reducing the maximum amount of outstanding commercial paper to $200,000,000 by September 30, 2029. The Treasury Division has indicated a need for this adjustment due to expected large stadium payments, increasing capital improvement program spending, and to account for cumulative inflation since the ordinance's original approval in 2004. This item is currently pending review. The work set in motion by this financial adjustment would involve administrative and financial planning, with potential future needs for legal and consulting services related to bond management and financial oversight. Local businesses specializing in financial services, legal counsel, and administrative support could find opportunities by engaging early to understand the city's evolving financial strategies and potential future project needs.

maximum amount of outstanding commercial paper

200,000,000 $

date

2029-09-30

proposed increase to

250,000,000 $

original ordinance amount

150,000,000 $

cumulative inflation

75 percent

new maximum based on inflation

260,000,000 $

ordinance year

2004

ordinance number

884

series year

2012