$26.5 Million Bond Ordinance
The bond ordinance was the final item on the agenda Tuesday, scheduling a public hearing on a proposal that would finance capital projects throughout the city.
The estimated cost of those projects is $26,566,000, and the proposed ordinance would allow the city to issue bonds in an amount no higher than that projected cost. In addition to the bonds, city documents say the plan to finance these improvements would also include state and federal aid, with tax income being used to pay off the bonds’ principal and interest as they come due.
The public hearing on this ordinance is also scheduled for August 4 at 7 p.m.