Comptroller Darlene Green announced today the city closed on $13 million in General Obligation Bonds. This bond issue, approved by voters in 2005, will help fund upgrades to the city’s radio system used by police, firefighters and paramedics; Mississippi River floodwall improvements; and various street and bridge repairs.
The approximate funding breakdown for the $13 million is as follows: $4 million for radio improvements; $6 million for floodwall improvements (require matching federal funds); $3 million for street and bridge repair (requires matching federal funds).
“Our credit rating upgrade earlier this year made the interest and insurance costs lower on these bonds. Every smart financial decision we make today is taxpayer money saved tomorrow,” explained Green.