Our highest priority is providing our community with effective and reliable service. As fire apparatuses age, they become less dependable and require more resources to maintain. New apparatuses and equipment are essential to ensuring the best possible responses to community emergencies.
The interest rate anticipated on the proposed bond issue, based upon current market rates, is three and twelve hundredths percent (3.12%) per annum. The total amount estimated to be repaid over the life of the bonds, based on the anticipated interest rate, is $19,444,750, consisting of $16,400,000 in principal and $3,044,750 of interest. The term of the bonds will not exceed ten (10) years from the date of issuance.
The estimated average annual cost to the taxpayer on the proposed bond levy is a tax of $16.07 per $100,000 of taxable assessed value, per year, based on current conditions. As of May 20, 2025, the total existing bonded indebtedness of the City, including interest accrued, is $865,019.