Bond Debt Estimated to be appropriated in next 60 days over $100 million (0.87% of Debt Limit)
Bond Actually Stated as of 20, January 2017 is over $268 million (2.3% of Debt Limit)
Bond Debt Authorized Unissued as of 20, January 2017 is over $173 million (1.5% of Debt Limit)
$577,312,020 is the Current Debt Limit = 5% of 2016 Equalized Valuation of $11,546,240,400
Authorized Unissued Debt and Prospective Financing
As of 20, January 2017, the City of Quincy will have approximately $173 million in authorized unissued debt. The largest component is approximately $83 million authorized unissued for school construction purposes expected to be issued over the next few fiscal years as part of the City’s comprehensive school facilities modernization program. Projects under this program have and are expected to be funded in large part from significant school building assistance grants from the Massachusetts School Building Authority. The balance of bonds currently authorized unissued is primarily for the City’s District Improvement Financing ($20 million), water and sewer purposes ($23 million), land acquisition ($24 million) and various other capital improvements.
Debt Before Five Term Mayor Tom Koch (elected in November of 2007)