At last Tuesday’s meeting of Monroe County’s council, county board of commissioners president Julie Thomas presented a list of projects that could be funded using proceeds from a $3-million general obligation (GO) bond.
It’s a routine strategy for the county, each year to set property taxes at a high enough rate to generate enough revenue to cover the repayment of short-term general obligation bonds.
The list presented by Thomas for this year included: trucks and heavy equipment for the highway department; support vehicles for the highway department; parks ADA projects; replacement of core switches in the justice building; radios for sheriff’s office; handheld narcotics analyzer; county vehicle refresh; renovations related to office move by highway and surveyor; and trail connections.
On Tuesday, the list did not appear to generate any red flags for county councilors. Last year, commissioners proposed a $5-million bond that drew sharp enough scrutiny from councilor Marty Hawk that the list of projects was trimmed down to about $3.3 million. This year’s proposal will get more consideration in the next few weeks before a vote is taken.
The idea of issuing GO bonds to fund capital projects made its way into recent deliberations in front of the Bloomington city council, during its deliberations on a possible increase to the countywide local income tax (LIT). The council’s vote was 4–5, so the proposal did not achieve even the simply majority to move it forward for consideration by the rest of the tax council. Continue reading “Monroe County mulls $3 million in capital projects for yearly GO bond issuance, after concept gets kicked around in debate on local income tax increase”