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Independence council approves sale of $32 million in bonds to fund streets, bridges and sidewalks
Summary
The City of Independence approved a resolution to authorize the competitive sale of up to $32 million in general obligation bonds as the first tranche of voter-approved bond authority. City staff described project priorities, timelines and how the competitive sale will work.
The Independence City Council voted unanimously to authorize the city to pursue the competitive sale of up to $32,000,000 in general obligation bonds, the first tranche of voter-approved bond authority intended to fund street maintenance, bridge repairs and sidewalk improvements.
The vote on ordinance 25-064 came after council members pressed staff for details about the bond sale process, project sequencing and how residents might participate in purchasing the bonds. “What youre voting on tonight is the first tranche of funds, $32,000,000 of the $55,000,000,” the City Manager told the council, describing the action as the procedural step that allows staff to take the bonds to market for sale.
The bond sale will be conducted…
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