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Kearney officials propose Fire Station No. 3 and ladder truck funded by municipal improvement bond
Summary
City staff presented a plan to build Fire Station No. 3 and purchase a ladder truck using a municipal improvement bond. The package would total about $14.815 million and would require an estimated 3¢ increase in the city general levy, raising the average Kearney homeowner’s city tax bill by roughly $70 per year.
City Manager Brenda Jensen presented the council with a funding plan to build Fire Station No. 3 and to acquire a ladder truck, proposed to be financed together with a municipal improvement bond.
The package Jensen described would total $14,815,000: approximately $12.3 million for the new station and $2.5 million for the ladder truck. The administration presented municipal improvement bonding as the preferred financing vehicle after ruling out further use of the city’s public-safety tax anticipation bond capacity.
Jensen said using a municipal improvement bond would spread payments across general-levy property tax and available special-sales-tax pledges and that the annual debt-service cost under the current estimate would be about $1.1 million per year — equivalent to roughly a 3¢ increase in the city levy. Using the presentation figures and the city’s median/average valuations, Jensen estimated…
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