The City of Two Rivers approved a legally required financing resolution for its 2026 capital projects.
The city explains on its Facebook page that it had a higher borrowing year in 2024 and reduced its capital borrowing by about 26% in 2025.
In 2026, the rate is essentially holding flat with less than a 1% increase, which is noteworthy considering the economic inflation seen in materials and labor.
The resolution approved last night doesn’t authorize new projects or increase spending, but “preserves the City’s ability to reimburse itself later in 2026 for budgeted capital costs,” and is required by the IRS.
City Manager Kyle Kordell noted that the city has typically borrowed between $2.3 and $3.5 million a year for capital investments.
But in both 2025 and 2026, $2.3 million in debt is being repaid, keeping the overall capital funding stable and consistent with past practice.
The resolution also reaffirms a debt cap policy approved by the council last year and self-imposes a limit of less than 3% of equalized property value and a requirement that at least 50% of debt be retired within 10 years.
