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Council directs staff to pursue bond financing for public works facility and Zephyr Park after review of plans
Summary
Council gave unanimous direction to staff July 28 to advance a financing plan (bond issuance) to fund a new public works facility and Zephyr Park improvements; staff outlined project costs, proposed paydown and an annual debt-service estimate of about $1.48 million at current market rates.
The Zephyrhills City Council on July 28 directed staff to proceed with a proposed financing plan that would combine construction and rehabilitation of a new public works facility with improvements to Zephyr Park, using a mix of cash paydown and long-term municipal bonds.
Finance Director Ted Beeson reviewed project totals and proposed funding: a public works program with facilities and rehabs totaling roughly $27.93 million and a Zephyr Park build-out budgeted at about $16 million. Staff proposed using $5 million of general-fund balance and $5 million of capacity fees to reduce the…
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