Long Term Debt Policy - At its meeting of May 20, 2008, the Yountville Town Council, through Resolution No. 2674-08, adopted a policy pertaining to the use of long-term debt. The use of debt is for financing capital infrastructure or unusual equipment purchases, and annual debt service payments may not exceed 25 percent of General Fund operating revenues.
General Obligation Debt - At this time, the Town has issued no debt that is a general obligation of the property owners of Yountville.
Current Debt Service Obligations Issued by the Town
- Yountville Finance Authority 2008 Lease Revenue Bonds - Associated with construction of the Yountville Community Center Project. The debt is to be paid using 2% of the Transient Occupancy Tax rate of 12%. Bond principal will be paid from 2011 to 2039, interest rates on the bonds range from 4.00% to 5.00%.
- Town Certificate of Participation - 2004 Measure A funded Floodwall Project . Associated with construction of the floodwall around the circumference of the Mobile Home Parks at the south/east boundary of the Town. This debt is secured with the Town's portion of the countywide 1/2 cent Measure A. Sales Tax. The debt for the floodwall will be paid off by 2018 (coincides with sunset of the 1/2-cent sales tax).
Standard & Poors AA Ratings Report 2011 [PDF] - Standard & Poors issued a report and credit analysis of the Town's financial statements and financial management system, and assiged a AA rating to the Town for its lease revenue bond offering (9/28/2011).