Bond Referendum for $55M Unnecessary

Why? Premature Bonding! 

1. Caxambas CT Bridge: Council discussion is necessary to determine to replace for $12M or rehabilitate for $2M. When project is shovel-ready, project can be BONDED, including revenue source to pay annual debt service. 

2. Goldenrod Bridge: Council discussion necessary to determine to replace for $10M or rehabilitate? This bridge is scheduled to be replaced in FY29. Bond it when it’s SHOVEL READY to be replaced or rehabilitate - at what cost, including revenue source to pay annual debt service. 

3. Blackmore, Sandhill, and South Seas Bridge, repair at $500K each: Scheduled for FY28. These repairs can be done in separate years as budgeted in FY 2026 Five-Year Capital Improvement Plan. Can be paid by General Fund Revenue. NO NEED TO BOND! 

4. Paving: The FY 2026 Five-Year Capital Improvement Plan Budgeted $1.5M for five years funded by the General Fund Revenue. Why bond at $1.68M for 10 years, with those funds sitting somewhere to be spent later at 4.5% interest? This is NOT FISCALLY RESPONSIBLE. NO NEED TO BOND! 

5. Intersections: When these projects have to be done (shovel-ready) and the General Fund Revenue isn’t sufficient to cover cost, bond in the year project is ready to start. 

6. Median Landscaping: $1.5M? This project doesn’t need to be bonded! NOT an emergency expenditure! Do it in phases - covered by General Fund Revenue. 

7. Pedestrian/Bicycle Safety: $4.6M. Shared Use Paths and Bike Lanes are not emergency projects. Can be addressed when City has sufficient funds to do projects.  

Are Grants Available? 

DON’T BOND FUTURE PROJECTS WHILE FUNDS SIT IDLE IN AN ACCOUNT WAITING TO BE SPENT WHILE PAYING DEBT SERVICE ANNUALLY AT 4.5% INTEREST.