Sunnyvale Town Council took a significant step towards funding vital capital projects during their recent meeting on July 28, 2025. The council approved a motion to issue debt not to exceed $36 million, marking a crucial moment in the town's financial planning.

This decision initiates a 45-day countdown before the town can officially sell the debt, with the council set to reconvene on September 15 to finalize the issuance. The funds will support a mix of local and utility projects, with repayment sourced from utility revenues and taxes. Eric Maja from Hilltop Securities was present to clarify the debt issuance process and answer any questions from council members.

The council's approval came after a brief public comment period, which saw no audience participation. Following the motion to proceed with the debt issuance, the council also moved into executive session to discuss personnel matters, ultimately approving a temporary salary increase for the interim town manager to $200,000.

This financial maneuver is expected to enhance Sunnyvale's infrastructure and services, with the council emphasizing the flexibility to adjust project funding before the debt is sold. The anticipated availability of funds by mid-October positions the town to address its capital needs effectively.