The Bond
$131,013,442.00 (estimated)--30+ yrs--you will pay until year 2049
$ 2,075,000.00--cost of project management through this plan or 5 yrs.
The 21 projects are projected to be completed in the year 2020 but you will be paying until 2049. They will begin in May 2015 as they will have to "sell" this bond. (What happened to the finance director?)
**If local property owners do not pay their property taxes on time in any
given year, a government entity is required to increase its property tax
rate by as much as is legally allowable in a following year to make up
for any delinquencies. In the interim between the taxpayer delinquency
and the higher property tax rate in the following year, the general
obligation pledge requires the local government to pay debt service
coming due with its available resources. (Wikipedia)
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