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Board of Finance backs $20 million general obligation bond to boost capital program
Summary
The Burlington Board of Finance voted unanimously to recommend a $20 million general obligation bond for capital projects, saying the borrowing would be phased over three years and could raise taxes up to about $12 a month on a $500,000 home at peak.
The Burlington City Board of Finance unanimously recommended placing a $20 million general obligation bond on the March 4, 2025 town-meeting ballot, saying the borrowing would be drawn incrementally over three years to support city capital needs.
Treasury staff outlined that the $20 million would expand annual capital capacity toward a target of roughly $8 million to $10 million a year and said the city would not draw the full sum in FY2026. Ashley (Treasurer's Office) said, “we won't be drawing down $20,000,000 into FY '26,” and that the bond’s maximum tax impact would be “about $12 a month…
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