Fresno approves up to $130 million for road and police building work

Fresno plans to borrow up to $130 million for street repairs and improvements to the Police Department Administration Building. The financing would provide about $100 million for the Pave More Now program and about $8.6 million for work at 2314 Mariposa Street. The City Council and Fresno Joint Powers Financing Authority approved authorizations for the bond financing, which would be repaid through city lease payments. Estimates assume $121.665 million in bonds, a 5.01% true interest cost, $108.6 million in proceeds and $247.5 million in total payments.

Actions pertaining to issuance and sale of 2026 Lease Revenue Bonds to finance the Pave More Now Projects and Police Department Administration Building Improvements: 1. ***RESOLUTION - Approving the issuance by the Fresno Joint Powers Financing Authority of lease revenue bonds in an aggregate principal amount not to exceed $130 million, authorizing the execution and delivery of a first amendment to master facilities lease, a first amendment to master facilities sublease, a bond purchase agreement, an official statement and a continuing disclosure certificate; and authorizing execution of documents and the taking of all necessary actions relating to the financing. (City action) (Requires Five Affirmative Votes) (Subject to Mayor’s Veto) 2. RESOLUTION of the Fresno Joint Powers Financing Authority authorizing the issuance and sale of Lease Revenue Bonds (Pave More Now Projects and Police Department Administration Building Improvements), Series 2026, authorizing the execution and delivery of a first supplemental trust agreement, a first amendment master facilities lease, a first amendment master facilities sublease, a bond purchase agreement, and an official statement, and authorizing the taking of all necessary actions relating to issuance of the Series 2026 Bonds. (Joint Powers Financing Authority action) 3. ***RESOLUTION - Authorizing the release of facilities and amendment of the 2008 Master Facilities Lease and 2008 Master Facilities Sublease relating to the Fresno Joint Powers Authority Lease Revenue Bonds (Master Lease Projects) and approving the taking of all necessary or desirable actions in connection therewith. (City action) (Requires Five Affirmative Votes) (Subject to Mayor’s Veto) 4. RESOLUTION of the Fresno Joint Powers Financing Authority authorizing the release of facilities and amendment of the 2008 Master Facilities Lease and 2008 Master Facilities Sublease relating to the Fresno Joint Powers Authority Lease Revenue Bonds (Master Lease Projects) and approving the taking of all necessary or desirable actions in connection therewith. (Joint Powers Financing Authority action)

Nov 12, 2026ID 26-1449: Actions pertaining to issuance and sale of 2026 Lease Revenue Bonds to finance the Pave More Now Projects and Police Department Administration Building Improvements: 1. ***RESOLUTION - Approving the issuance by the Fresno Joint Powers Financing Authority of lease revenue bonds in an aggregate principal amount not to exceed $130 million, authorizing the execution and delivery of a first amendment to master facilities lease, a first amendment to master facilities sublease, a bond purSource documentPDF 1PDF 2PDF 3PDF 4PDF 5PDF 6PDF 7PDF 8