The City Council gave staff approval to move forward in drafting a ballot question for the November election to bond for 10 new capital projects. The exact wording will have to be approved by the Council next month.
If approved, the bond will be issued in 2019 for approximately $32,615,000 with an estimated annual debt service over twenty years of $2.51 million. Principal and interest payments on the bonds would be made from revenues from a 2 percent portion of the city’s overall 3.35 percent sales and use tax and would not require a new tax or a higher tax rate.
Projects on the list include the replacement of fire stations 2 and 6, Civic Center rehabilitation, Safety & Justice Center rehabilitation, Library rehabilitation, a Ute Creek maintenance facility, irrigation systems for Ute Creek Twin Peaks, Sunset golf courses, renovation of Centennial Pool and repairs for various City facilities.