Board ratifies $19.5 million GEO bond plan and discusses Smith Valley Road bridge upgrades
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Summary
The Greater Board of Public Safety ratified a bond counsel agreement and approved Resolution 25-15 to enable up to $19,500,000 in GEO bonds; members described projects the funds could support, including a Smith Valley Road bridge replacement with added lanes and a trail connection.
The Greater Board of Public Safety on Oct. 20 ratified a bond counsel agreement and approved Resolution 25-15 authorizing up to $19,500,000 in GEO bonds to finance a series of transportation and public works projects.
Why it matters: Board members said the bonds would give the city flexibility to fund multiple projects over the next several years, with officials pointing to a replacement of the Smith Valley Road bridge as the first likely use and the potential to add traffic lanes and a separate trail connection.
Board members voted to ratify the city’s agreement with bond counsel for the 2026 GEO bond and then approved Resolution 25-15 “as presented,” enabling issuance up to the stated amount. The board recorded the motions and approved both items by voice vote.
Greg, a city staff member who outlined the plan, described a new approach the city will use to issue bonds as projects are ready. “This is a new process for us. We’ve never done what’s called a neutral project before,” Greg said. He listed several projects that could be covered under the bond, “most of them revolving around Smith Valley Road, but also Beach Street and eventually replacing Station 92.”
Greg said the Smith Valley Road bridge replacement will likely be advanced in the county’s 2026 budget cycle and that the city expects to add two lanes as an alternate bid to the structural work. He said the county is legally responsible for the bridge but that the city intends to fund additional lanes and related improvements to avoid separate mobilization costs.
Board members asked whether the project would include a separated pathway in addition to roadway lanes; the board was told that a separate trail area is expected. The board also discussed coordination with the county and the need to preserve county funding streams while the city adds improvements.
Outcome and next steps: With the resolution approved, city staff will proceed with the bond-counsel arrangement and prepare to issue bonds as projects are scheduled. No timeline for bond sale or the first draw was specified during the meeting.
The board adjourned the bond-related item after approval and moved on to other business.
