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Committee authorizes first sale of voter‑approved $185 million parks bond; $45 million tranche to fund neighborhood projects
Summary
The committee authorized sending forward the first sale of up to $45 million of a voter‑approved $185 million general obligation bonds package for park capital projects, listing neighborhood projects to be funded and estimating limited direct property‑tax impact due to timing with existing bond retirements.
The Budget & Finance Committee on July 23 advanced authorization for the first sale of general obligation bonds tied to the voter‑approved $185 million parks package, moving forward a not‑to‑exceed $45 million tranche for initial projects.
Nadia Sise of the Office of Public Finance explained that one sale would cover roughly $45 million of the $185 million authorization approved by voters. Rec & Park staff listed project priorities for the first tranche: Chinese Recreation Center,…
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