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Board weighs long-range capital plan, bond scenarios and police station timing
Summary
City staff and aldermen used the April 22 budget workshop to walk through a multi-year capital plan that includes bond-funded road projects, a police station project and a sequence of facility remodels and build-outs.
City staff and aldermen used the April 22 budget workshop to walk through a multi-year capital plan that includes bond-funded road projects, a police station project and a sequence of facility remodels and build-outs.
Bruce, a city staff member, reviewed the bond scenarios and tax implications. He told the board that a $25 million bond estimated to produce a bond-payment amount of $1,875,000 would translate to "just over 11¢" on the tax rate to cover that payment. He said a larger $68 million package — which would include two years of road projects plus a police station — corresponded to a roughly 30¢ tax-rate increase. Bruce added the city was not proposing an increase at this time; the figures were presented for…
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