General Obligation Bond Lake Worth

Lake Worth’s Commission and City Manager have decided to place a $40 million, 30 year bond for road repair on the November 8th ballot.

On the same ballot will be the 1% sales tax increase proposed by Palm Beach County.  If this measure passes, the County indicates Lake Worth will be allotted $2 million annually for each of the next 10 years to address roadway improvements.

A more fiscally prudent move by the City of Lake Worth, and more considerate of the financial well being of the citizenry,  would have been to wait until the municipal election in March 2017 in order to float the $40 million bond should the County’s 1% proposal fail.

Should it  pass, the $2 million annual revenue added to the City’s recently doubled road repair fund in the City’s budget will be adequate to bring the long neglected roads back to new condition without burdening us taxpayers or prospective investors with the highest property tax bills in Palm Beach County.

Laurence McNamara