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Item No. 14 memorandum TO: City Council FROM: Rose Beverly, City Manager Steve Marriott, Finance Director SUBJECT: Presentation from SAMCO for City of Paris 2026 Tax Note DATE: March 23, 2026 BACKGROUND: The proposed tax note will fund two critical projects. The first is the replacement of the Police Department roof. The overall condition of the roof is a significant concern, and staff has been aware of the need for replacement for some time. Immediate action is necessary, as the most compromised area is located above the evidence storage area. A structural failure in this location would have catastrophic consequences for police department operations. Second, the tax note will fund the purchase of a new heavy rescue fire truck. This will allow us to remain aligned with the Fire Department's Capital Improvement Plan. The truck will have an estimated delivery timeline of approximately four years and will replace a unit that is over 15 years old. This unit operates countywide and has already required significant investment, including a new engine ($25,000) and two transmission replacements ($15,000 each). In addition, more than $10,000 was spent on general repairs last year alone. As our fleet continues to age, maintenance costs increase while reliability declines. STATUS OF ISSUE: The following items are proposed to be funded with the tax notes: . Replacement of Police Department roof: $930,000 (including 10% contingency) . New $1,400,000 Heavy Rescue Fire Truck: fef,41 C@§t° $2,330 (Additional legal andfinanci al fees will be included.) BUDGET: Currently, the City's I&S tax rate is $0.1650. If the notes are issued with interest -only payments in the first year, the rate would increase to approximately $0.1735 (an increase of about $0.0075). After four years, the tax rate is projected to return to current levels.