City of Marco Island Florida - File #: ID 26-5769

• File #: ID 26-5769
• Version: 1
• Type: Resolution
• Status: Agenda Ready
• File created: 8/24/2026
• In control: City Council
• On agenda: 9/10/2026
• Title: Resolution - Authorizing The Issuance Of Amount Not To Exceed $23,000,000 In Aggregate Principal Of City Of Marco Island, Florida General Obligation Bonds, Series 2027 Which Will Be Payable From Ad Valorem Taxation, And Which Will Be Issued For The Purpose Of Financing Construction and Transportation Improvements - Casey Lucius, PhD., City Manager
• Sponsors: Sandra Schildhorn

Agenda Item:   16(a)	Prepared By:  Casey Lucius, Ph.D., City Manager
Business:   City Council Item	Department:   Executive

Subject:

Title

Resolution - Authorizing The Issuance Of Amount Not To Exceed $23,000,000 In Aggregate Principal Of City Of Marco Island, Florida General Obligation Bonds, Series 2027 Which Will Be Payable From Ad Valorem Taxation, And Which Will Be Issued For The Purpose Of Financing Construction and Transportation Improvements - Casey Lucius, PhD., City Manager

Body                     

BACKGROUND: 

The City of Marco Island electors voted in favor (2,259 = “Yes / 2,258 = “No) on the August 2026 primary ballot to issue a $23 million bond to support construction and transportation improvements.   This amount would support the following projects over twenty years:

•                     Replace two bridges ($14.5M)

•                     Repair three bridges ($1.5M)

•                     36 lane miles of catch-up paving ($7.2M)

Resolution 26-49 provides final authorization from City Council to issue the bonds. 

FUNDING SOURCE / FISCAL IMPACT:  Proceeds from the bond will fund the projects listed above

RECOMMENDATION: Approve the Resolution 26-49.

POTENTIAL MOTION: “I move to approve the Resolution 26-49”.