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Casa Grande council adopts reimbursement resolution tied to 2022 streets, transit bond authorization
Summary
The City Council approved Resolution No. 5758 declaring official intent to reimburse prior capital expenditures for streets and transit projects from future bond proceeds related to a 2022 voter-approved bond authorization, without authorizing any bond sale or creating debt.
The Casa Grande City Council on Feb. 18 approved Resolution No. 5758, a measure declaring the city’s official intent under federal tax rules to reimburse certain streets and transit capital expenditures from future bond proceeds tied to a 2022 voter authorization.
City staff told the council the November 2022 ballot authorized up to $51,000,000 in general obligation bonds to fund streets, alleys, lighting, traffic signal and transit-bicycle improvements and acquisition of land for transportation within the city. The reimbursement resolution, staff said, allows the…
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