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Pittsburgh City Council

Bond sales will pay for local infrastructure improvements.

Written by Amy Whipple

Despite holding $645 million in debt, the city is looking at issuing another $56 million worth of bonds.

Council met with financial advisors at the Feb. 18 committee meeting about issuing $56 million in long-term bonds.

The money would pay for infrastructure projects such as bridges, roads and building facilities. Of the $112 million in capital projects planned for 2026, $51 million of them meet that criteria according to Matthew Stuczynski, a municipal advisor with MAS Financial Advisory Services. 

The additional $5 million of the request, he said, is related to state regulations.

Pittsburgh’s current $645 million worth of bonds has a payment schedule that’s spread over the next 20 years. The 2026 payment on that debt is $78 million. The city, however, will pay off more bonds than it issues. Even taking on the current request for $56 million, the payment for 2027 will go down to $46 million. 

Last year was the first time the city was able to put out a competitive call for bids from firms to sell bonds. Prior to that, it used a process of pre-chosen local firms because of the government’s poor financial health. Now that the city is in a better financial state, it can put out a national call for bids, resulting in a lower interest rate. (Last year, Pittsburgh-based PNC Bank won the bid.)

Council is scheduled to cast its final vote next week.

Connections to this story

Topics:
City Budget & FiscalInfrastructure
Governments:
Pittsburgh City Council
Sources:
Resolution 2026-0111 — to authorize and direct the incurring of Non-Electoral Debt through the issuance of a series of General Obligation…

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