The City of Savannah 2026 Adopted Budget and Capital Improvement Plan forecasts the City of Savannah will invest $343.6 million in new water and sewer capital projects over the three year period ending December 31, 2028. Sources of funding for these projects include the issuance of new debt totaling $357.5 million. This resolution will provide for the orderly issuance of bonds over the next three years to fund the 1) costs associated with constructing and equipping water and sewer capital projects, and 2) issuance costs of the bonds. Funding for the debt service on these bonds is tied to rate increases detailed in the 2026 Adopted Budget and Capital Improvement Plan averaging 7.0% annually through 2029. 

The exact amount of bonds to be sold and the details of each transaction will be reported to City Council as bonds are sold. It is anticipated that a Series 2026 bond issue will be sold on August 13, 2026, with an estimated par amount of $142.445 million.

Approval