The City of Burlington originally issued its Waterfront TIF Note in the principal amount of $18,840,000 on June 21, 2023 to fund public improvements and related costs attributable to projects serving the Burlington Waterfront Tax Increment Financing (TIF) District, as approved by the voters at a special meeting held November 8, 2016. As part of the City’s continued efforts to obtain the best terms and lowest cost for the financing of such public improvements, the City refinanced such existing indebtedness as the construction of the public improvements progressed. The City now expects to undertake a competitive sale of its Waterfront TIF Bonds for the current refunding of outstanding indebtedness. It is expected that such Bonds will be payable over an approximate 9 year period and repaid from TIF increment and the credit of the City, if such increment is insufficient. The City is in process of soliciting proposals from qualified financial institutions and expects to sell its bonds or other evidence of indebtedness to a qualified underwriter on or about April 28, 2026, with a closing date in May 2026. For further information, contact Ms. Darlene Bayko, 149 Church St., Burlington, VT 05401.