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Auxvasse to ask voters for $5 million bond authorization

Auxvasse to ask voters for $5 million bond authorization

January 4th, 2012 in News

The Auxvasse Board of Aldermen plans to request a $5 million bond issue from local voters in April to help fund infrastructure improvements for the city.

The Board of Aldermen here voted Tuesday night to put a $5 million bond issue on April's ballot.

The city intends to take out loans to start a multi-phase improvement project for its water and sewer system that its engineers, Allstate Consultants, estimated may cost $3-5 million. Members held a special meeting Tuesday to decide what amount to put on the ballot.

After Chad Sayre, Allstate project engineer, gave the board members a detailed assessment of what each proposed improvement would cost, members decided to ask the voters for the upper end of the estimate.

Sayre explained that asking for a $5 million bond doesn't mean the city would have to take out that much in loans. If the bond passes, it gives the city the authorization to take up to the stated amount if needed. Members agreed to ask for $5 million to make sure the amount would cover projected costs, and the city wouldn't have to return to voters at a future date to ask for more.