The Local Building Authority of the City of Saratoga Springs intends to issue Lease Revenue Bonds, Series 2026, to fund several municipal projects. A public hearing is scheduled for December 8, 2026, to allow members of the public to present testimony regarding the proposed bond issuance.
According to a notice published November 12, the Series 2026 Bonds are intended to finance the construction of a fire station, the acquisition of a fire truck and an ambulance, and all related improvements. These funds will also be used to pay costs associated with the issuance of the bonds and to fund any required debt service reserve fund, if necessary.
The proposed bonds will have a term length not to exceed 21 years. The Authority anticipates that the City of Saratoga Springs will be the intended lessee of the facility constructed using these proceeds.
Financial projections for the Series 2026 Bonds indicate an average annual amount of $1,652,775 that the Authority will be required to pay in principal and interest. The City of Saratoga Springs is expected to pay an annual amount of $1,652,775 in lease payments.
The public hearing is scheduled for December 8, 2026, at 6:00 p.m. at 319 South Saratoga Road in Saratoga Springs. The Authority anticipates taking action on the proposal to issue the bonds directly following the hearing during the same meeting. Individuals requiring special accommodations for the meeting should notify the City Recorder at least two days in advance.
