Robinson considers up to $33 million in certificates of obligation for ladder truck, streets and water upgrades

Robinson city leaders outlined a plan to issue up to $33,000,000 in certificates of obligation to finance a ladder truck, major street work and water‑system improvements, City Manager Craig said at a town hall meeting.

Craig said the proposed borrowing would be split into three categories: up to $2,500,000 to pay for a ladder fire truck, up to $22,500,000 for improvements to existing streets and up to $8,000,000 for utility‑system and water‑plant improvements. "Council's looking at issuing up to 33,000,000 in certificates of obligation," Craig said during his presentation.

The proposal matters to property owners because part of the debt service would be supported by property tax revenue. Craig said preliminary April values indicate the debt service portion could amount to a 6.17¢ increase in the tax rate for the portion that funds debt service; the presentation included a table showing $61.70 per year for each $100,000 of assessed value (about $201 a year for a home valued at $328,000 under the assumptions used in the slides). He cautioned certified values will not be available until July 25.

Why officials say the borrowing is needed

Officials said the city currently has roughly 65 streets — almost 37 miles — that need either reconstruction or reclamation and that fully fixing all those streets was previously estimated near $40,000,000. Craig told attendees the city has already addressed about eight miles of the worst roads and has roughly…