General Obligation Bond 2017
Why Is the Bond Election Being Held?
The Town is submitting a single bond question for your consideration. The obligations which are the subject of the bond question will provide financing for a number of capital projects in the Town's long-range capital improvements program.
Strategic intiatives were identified by residents during the planning process as well as community surveys that focussed on preserving the Town's historic culture, and preserving and improving infrastructure. These initiatives were also a prominent Council goal for fiscal year 2017-2018 and were passed as part of the General Plan 2026.
The Resolution authorized the Town to ask voters for approval to issue Bonds which will mature over a period of time not to exceed twenty-five (25) years; it is the Council's intention to issue the Bonds to be repaid over an approximate twenty-two (22) year period in the total amount of $15,000,000.
The $15,000,000 Bond will address purposes for Town Center Redevelopment, Public Safety, Economic Development Infrastructure, Parks and Recreation, and Transportation.
If approved, the Bond would provide for these purposes.