Council approves sale of $32 million in bonds to start street, bridge and sidewalk work

The Independence City Council voted 7-0 to authorize the sale of up to $32,000,000 in general obligation bonds as the first tranche of voter-approved bond authority for street maintenance, bridge repair and sidewalk improvements. The sale authorizes staff to competitively market and issue the bonds to investors so the city can begin projects identified in the voter-approved program.

The bond authority stems from a ballot question voters approved in April that authorized up to $55,000,000 in debt for streets, bridges and sidewalks. City staff said the $32 million is the first issuance of that voter-approved amount. "What you're voting on tonight is the first tranche of funds, 32,000,000 of the 55,000,000, approving us to go into the private marketplace, and competitively sell these bonds," the city manager told the…