Council briefed on up to $700 million in airport revenue bonds and the FY 2025-26 budget
May 13, 2025, 1:00 p.m.
The Council heard an economic forecast, a briefing on up to $700 million in Airport Revenue Bonds, overviews of the mayor's and Council staff budgets, the Fleet Fund and a second issuance of parks bond funding of nearly $35 million. It also took straw polls on its communication budget policy. The Council met briefly as the CRA board during the session.
From the approved minutes. Updated October 14, 2026.
Decisions at a glance
Agenda, item by item
Item 1 · Presentation
Economic forecasting presentation
Discussed
The director of the Kem C. Gardner Policy Institute discussed population changes, unemployment, inflation and recession risk, the need for stronger education, healthcare and family support, diversifying the economy as tourism demand shifts, and state-city collaboration.
Item 2 · Budget
Airport Revenue Bonds, Series 2025
Discussed
The Council was briefed on a parameters resolution authorizing not more than $700 million in Airport Revenue Bonds to finance and refinance capital improvements at the airport, with a supplemental indenture and bond purchase agreement. Discussion covered air traffic control staffing shortages, rising interest rates, bond purchase strategy, refinancing timeline and new concourse bond requests. A public hearing is set for July 1, with action tentatively June 3. The Council also reconvened briefly as the CRA board to approve the CRA consent agenda omitted earlier (7-0, moved by Council Member Mano, seconded by Council Member Dugan).
- Bond$700.0 million
Item 3 · Budget
FY 2025-26 budget: Administration's overview
Discussed
The budget director discussed the Funding Our Future fund balance at 13% of the General Fund balance and reductions in the Economic Development Department's Main Street Promenade and Construction Mitigation grants.
Item 4 · Budget
FY 2025-26 budget: Council staff overview
Discussed
Council staff presented their budget and discussed building permit registration fees; the finance chief noted a building permit downturn leaving flat income.
Item 6 · Budget
FY 2025-26 budget: Fleet Fund
Discussed
Public Services presented the Fleet Fund budget. Discussion covered maintenance frequency, rising repair costs for aging equipment, requests for new police vehicles, savings from leasing versus buying, one-time funding for employee vehicles and a backlog of unmet needs.
Item 7 · Parks
Parks, Trails and Open Space general obligation bond: first issuance update, second issuance request
Discussed
Staff updated the Council on projects from the 2022 series and presented the request for a second issuance (Series 2025) of nearly $35 million for projects including the next stage of Glendale Park, Allen Park, the Jordan River corridor and smaller district projects, plus inflation updates to bond-funded salaries. Voters authorized up to $85 million in 2022. Construction is contracted out rather than done by city staff. Council Member Young asked for new progress graphics and priority for safety requests; Council Member Puy asked for a consolidated list of Council questions.
- Bond$35.0 million
Item 8 · Other
Council communication budget policy
Discussed
Council staff reviewed draft policy language, state rules on public officials' communications and a straw poll handout. With Council Member Mano absent, straw polls unanimously supported using council budget funds for all communication except promotional material; no limit on Council fund balance used for city-generated communications; and limiting contributions to community events to 10% of a district's fund when no sponsorship credit is given. All members opposed allowing donations to nonprofits from communication budgets. Council Member Young asked for election procedure information in the policy handbook.
Item 9-10 · Budget
Written briefings: Finance Department budget; Library Budget Amendment No. 2
No action
Written briefings only on the Finance Department's FY 2025-26 budget and Library Budget Amendment No. 2 for FY 2024-25; no discussion was held.
What residents said
Airport air traffic control staffingInterest rates on bonds