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Council approves first reading of bond ordinance to finance voter-approved capital projects (not to exceed $40 million)
Summary
County staff presented ordinance 25 10 18 on first reading to implement bonds from a voter-approved capital sales tax. Staff said bond anticipation notes will be issued this year with final bonds early next year, with a total not to exceed $40,000,000; the council approved the first reading.
County staff presented ordinance 25 10 18 on first reading by title only. The ordinance implements the sales-tax-funded capital program voters approved at the November general election; staff said the county will issue bond anticipation notes this year and the final bond issue will occur in early next year, with a total not to exceed the $40,000,000 described in the election materials.
A council member moved and a second was recorded; the council approved the first reading on the ordinance by voice vote. No final bond sale was authorized tonight beyond proceeding through the statutory ordinance-reading and bond-issuance schedule described by staff.
