If Jordan wants to spend more than $7.8 million this year on building city facilities like a city hall, police station, fire station and library, it will have to raise taxes. 

State law allows the city to carry a general obligation debt of no more than 2 percent of the city's market value, said Kyle Meyers of Abdo, Eick & Meyers.

Meyers visited the Jordan City Council on Monday to talk about a recent audit of the city's finances, and Mayor Ron Jabs asked about financing the big-ticket projects.

"We're probably going to be hitting a ceiling," Jabs said. 

About $2 million of the city's outstanding debt will be retired in 2010 and 2011, Meyers said.  

Meyers also pointed out several other things about city funds, including that:

- the general fund reserve as compared to the general fund has decreased in percentage from 54 percent in 2003 to 38 percent;

- spending was at the budgeted level, but revenues were $90,000 below budget;

- there are healthy fund balances in the water, sewer, and stormwater enterprise funds; 

- and the city paid down $1.5 million in debt last year.