Updates from Eric
Understanding Street Bonding on the ballots this November
Recently, our city council unanimously approved a street replacement project that will cover about 5 1/2 miles of city streets next summer. There will be a referendum on the ballots this fall asking for your approval to bond for this project.
If you choose to vote YES, the city will be able to move forward with this project, and make the payments on the bonds entirely from the street replacement fund that the council established in 2012 and that is still part of our current taxes, without assessing homeowners.
If you vote NO, the city council will have to vote to move forward with the project, still bonding, but assessing homeowners AT LEAST 20% of the cost of the street replacement portion of the project, and using the street replacement fund to pay the balance of the bond payments.
There will be the state mandated statement on the ballot that reads - BY VOTING "YES" ON THIS BALLOT QUESTION, YOU ARE VOTING FOR A PROPERTY TAX INCREASE. This statement is required by the state, even when a city already has the money set aside to make the bond payments (as is the case in our city). The city did receive approval from the state to add some additional information explaining the use of the street fund to make the payments. In reality, a yes or a no vote on this project will NOT affect your property taxes.
The fund was established as a savings account for street replacements throughout the city. A responsible move by our council to ensure that we have the money to maintain our infrastructure. The majority of our council is concerned about the financial impact of additional assessments on property owners, especially those living on fixed incomes and the families still struggling from loss of income during this recession.
Keep in mind, the way this vote goes, will most likely determine how future street replacements are funded in our city. Eventually, you, your family, and your friends in our city will most likely be affected by this decision. As your mayor, I encourage you to VOTE YES.
If you have questions about this, please feel free to give me a call at: (651) 238-0245