Does this mean the City will wait 7 years to begin these projects?

The 7 years allotted for these bonds are not meant to give municipalities the ability to shelve projects until seven years have passed. The 7-year time period is meant to give municipalities some leeway in when they issue debt so that they can watch the bond market and initiate the bonds when the time is best financially - just like how shoppers wait until interest rates are low to make a large purchase.

The City’s goal is to initiate these projects as soon as possible and to stagger them over time to minimize the tax impact on residents. Seven years is the longest the City can take to initiate a project, not a goal for getting started.

Show All Answers

1. What is a bond referendum?
2. What is the purpose of a bond referendum?
3. Why use bond financing for these projects?
4. How much would the City issue in bonds?
5. Does this mean the City will wait 7 years to begin these projects?
6. Can I vote for some bond issues but not others?
7. What is the total tax rate implication for each bond referendum question?
8. Will taxes be applied to real property, only?
9. What happens if the bonds don’t pass in September?
10. If voters don’t approve the bonds, does this mean that the City Council will be prevented from raising property tax rates in the future?
11. Given the condition of the economy, is now the right time to vote on these particular bond initiatives?
12. If the items included in the bond referendum are approved, how quickly would the projects begin?
13. If the items included in the bond referendum are approved, in what order would they begin?