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Lauderhill outlines $65 million general obligation bond; officials say debt millage won’t rise
Summary
Lauderhill officials presented a $65 million general obligation bond—$34M for parks, $21.5M for transportation and $9.5M for public safety—explaining financing tactics (phased drawdowns, interest income, level debt) they say will keep the debt-service millage steady. The measure goes to voters on March 10.
Lauderhill officials on the town-hall stage detailed a proposed $65,000,000 general obligation (GO) bond to fund parks, transportation and public safety projects and said they plan to hold the debt-service millage rate steady if the referendum passes on March 10.
Deputy City Manager and Finance Director Sean Henderson described the city’s approach to limit tax impacts: structure level debt, draw down the approved $65 million in phases (an initial $30–$35 million draw), and use interest earnings on borrowed funds to moderate debt-service payments. "We're making sure that we structure the debt in such a way where we're not going to raise the millage rate associated with the general obligation bond going forward,"…
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