These Resolutions allowed for UP TO $750 MILLION DOLLARS to be spent NOW and paid back later with a "pledge" the use funds from FUTURE BONDS that the taxpayers never approve!
The CASH being spent is being borrowed from money that was already set aside for critical projects that are currently in progress.
This is legitimate debt but DOES NOT GET REPORTED like other debt and circumvents legislative protections intended to prevent disastrous financial actions from occurring!
You will not see this debt on the Report of Outstanding Indebtedness provided to the State and you will not normally see it disclosed on reports to banks and bond credit rating agencies. However, it is actual debt that the taxpayers are responsible for paying.
Recent meetings that I recently had with Town staff and other official documents show that the town is preparing to seek hundreds of millions of dollars in additional MPC bonds as early as this fall (FY2027).
Adopted by the Gilbert Town Council on September 9, 2025, Resolutions 4599 and 4600 establish a financial framework allowing the Town to reimburse itself for capital expenditures using proceeds from future bond issuances.
Together, these resolutions facilitate up to $750 million in infrastructure funding, ensuring the Town can advance critical projects using available cash while planning for long-term debt financing
Resolution 4599: General and Public Safety Projects
This resolution authorizes the reimbursement of capital expenditures for a wide array of community and public safety initiatives.
Resolution 4600: Water and Wastewater Infrastructure
This resolution focuses specifically on the Town's utility and resource management needs.
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