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Item No. 15 TO: Mayor, Mayor Pro -Tem, and City Council Rose Beverly, City Manager FROM: Steve Marriott, Finance Director SUBJECT: City of Paris Tax Note Series, 2026 DATE: April 27, 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 to be funded with these tax notes: Replacement of Police Department roof. $930,000 (including a 10% contingency) New Heavy Rescue Fire truck: $1,400,000 Total cost $2,330,000 (Additional legal and financial fees will be included) BUDGET: Currently, the City's I&S tax rate is $ 0. 1650. The City has built up an adequate debt service reserve to allow for payment of these tax notes without increasing the I&S tax rate initially. RECOMMENDATION: For Council to approve the City of Paris, Texas, Tax Notes, Series 2026 Ordinance in order to authorize the issuance of tax notes to purchase the above -referenced items.