According to Chief Financial Officer Albert Stanley, auditor Leon Costello indicated in September that approving the bonds would not impact the tax rate.
The city last month cancelled balances in previously approved bonds totaling $1.7 million. Those funds will be used as down payments for the new bonds.
Bond Ordinance 024-2020 will appropriate $8,006,820 for various capital improvements, including $4,381,500 for roadways and improvements to municipal facilities, such as drainage, paving, dehumidifying the basement at City Hall, installing new air handlers at the library building, constructing a storage area for the Beach Patrol, and improving the pavilion at Newport Avenue. The bond also appropriates $900,000 for equipment, phone system, technology equipment and light trailers for the Police Department; $90,000 for Public Works equipment and security; $114,000 for personal protective equipment for the Fire Department; $96,320 for vehicles and boat equipment for the Beach Patrol; $700,000 for non-passenger vehicles; $510,000 for a non-passenger SUV and a fire engine; $375,000 for a sanitation truck and street sweeper; and $750,000 for demolition and construction of Beach Patrol Headquarters.
Bond Ordinance 025-2020 will appropriate $6,064,250 for utility improvements, including $5,829,680 for water and sewer main improvements in various locations, manholes, painting the water tower, drinking water hardware and software, and acquisition of real property.
A public hearing on the ordinances will be held 5:30 p.m. Thursday, Nov. 12.
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