Jonesboro leaders outline $16 million revenue bond to fund E‑911 center, road and trail projects

Mayor and city staff on May 20 presented a plan to issue up to $16,000,000 in revenue bonds to fund a new E‑911 public safety center, road widening on Carraway Road, an expanded trail network and other quality‑of‑life projects in Jonesboro. City officials said bond repayment would be backed by franchise‑fee revenue from utility providers and that the bonds would not be a general tax on residents.

The presentation, delivered at the City Council meeting in Jonesboro, outlined a project list the council has discussed for more than a year and a half and a timeline the city hopes will result in a July 22 closing. Paul Phillips, the city’s financial advisor, said the plan includes seeking a credit enhancement and aiming for a double‑A rating. "I feel real confident that we'll get a double‑A credit rating by virtue of a credit enhancement from a surety guarantee," Phillips said.

City officials said the bond proceeds would be restricted to construction and must be spent within a three‑year window. The packet presented to council shows a projected…