City of Fayetteville
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File #: 22-2876    Version: 1 Name:
Type: Public Hearing (Public & Legislative) Status: Agenda Ready
File created: 8/1/2022 In control: City Council Regular Meeting
On agenda: 8/8/2022 Final action:
Title: Public Hearing on Order Authorizing $60,000,000 Public Safety Improvement Bonds, Bond Order Authorizing $25,000,000 Streets, Sidewalk, and Connectivity Bonds, and Order Authorizing $12,000,000 Housing Bonds Consider Final Adoption of the Bond Orders and Resolution Calling for a Bond Referendum
Attachments: 1. Public Hearing Approval of Bond Orders and Resolution Calling for a Bond Referendum - 2022 GO Referendum (00426388-3xBAC86), 2. GO Bond -8.8.pdf
TO: Mayor and Members of City Council

THRU: Douglas J. Hewett, ICMA-CM, City Manager

FROM: Jay C. Toland, CMA - Chief Financial Officer/Assistant City Manager

DATE: August 8, 2022

RE:
Title
Public Hearing on Order Authorizing $60,000,000 Public Safety Improvement Bonds, Bond Order Authorizing $25,000,000 Streets, Sidewalk, and Connectivity Bonds, and Order Authorizing $12,000,000 Housing Bonds

Consider Final Adoption of the Bond Orders and Resolution Calling for a Bond Referendum
end

COUNCIL DISTRICT(S):
Council District(s)
All


b
Relationship To Strategic Plan:
Goal 4: Desirable place to live and recreate.


Executive Summary:
City Council will conduct the public hearing on the orders for $60,000,000 Public Safety Improvement Bonds, $25,000,000 Streets, Sidewalk, and Connectivity Bonds, and $12,000,000 Housing Bonds. After the public hearing, Council will be asked to consider the adoption on second reading the bond orders approved by Council on first reading on June 27, 2022, as amended, and the passage of a resolution calling for a bond referendum on November 8, 2022.


Background:
On April 28, 2022, City Council held a special meeting to discuss unfunded needs in the City. The City Council directed staff to initiate the process to set bond referendums for November 8, 2022, for not to exceed $60,000,000 in general obligation bonds for public safety improvement capital projects, not to exceed $25,000,000 in general obligation bonds for streets, sidewalk, and connectivity capital projects, and not to exceed $12,000,000 in general obligation bonds for affordable housing capital projects and funding the Housing Trust Fund.

On May 9, 2022, the City Council adopted a preliminary findings resolution authorizing staff to submit an application to the Local Government Commission for the proposed authorization of Public Safety Improvement Bonds, Streets, Sidewalk, and Connectivity Bonds, and Housing Bonds.
On June 27, 2022, the bond orders for th...

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