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Council authorizes $20 million tranche of revenue bonds to finish transportation projects
Summary
Council approved reissuing the remaining $20 million of voter-authorized general fund revenue bonds to fund a package of transportation projects including road upgrades, roundabouts and safe routes to schools across multiple corridors.
The Grand Junction City Council voted unanimously on Oct. 1 to reissue the remaining $20 million of a voter-authorized general fund revenue bond authorization to complete a set of transportation projects across the city.
City Chief Financial Officer Jay Valentine told council that voters in 2019 authorized up to $70 million in general fund revenue bonds; the city issued $50 million in 2020 and is now proposing issuance of the remaining $20 million in order to complete projects already under way or designed. Valentine said staff delayed issuing the full authorization previously to avoid carrying costs while proceeds remained…
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