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Veterans Park bid tops authorized bond; board to seek paperwork and place award on next agenda
Summary
A bid for the Veterans Park project returned at about $1.232 million, exceeding the project total in the town—s bond authorization; staff will contact bond counsel to determine whether to amend the bond or cover the delta using parks reserves.
A bid for the Veterans Park project returned at roughly $1,232,906.89, higher than the project amount the town had covered in its bond authorization. At the workshop the finance staff and board members discussed options to fund the difference, including rebonding the project or using available parks-and-recreation funds to cover the delta and then borrowing the amount in next year—s bonding if necessary.
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