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Homestead council clears $84M bond referendum, reduces parks ask by $8M
Summary
Council voted to place two general-obligation bond questions on the November ballot — parks ($44.4M) and roadway improvements ($39.6M) — and approved an $8 million reduction to the parks portion at the meeting.
The City Council of the City of Homestead on Aug. 5 voted to place two separate general-obligation bond questions before voters in November: one not to exceed $44,400,000 for park projects and a second not to exceed $39,600,000 for roadway improvements. Council also approved a motion to reduce the parks proposal by $8,000,000 before finalizing the ballot language.
City staff said the total authorization being proposed is about $84,000,000, a figure that includes an estimated 1.25% cost of issuance. The administration estimated a projected annual debt service impact of…
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