Given the condition of the economy, is now the right time to vote on these particular bond initiatives?

While the economy hasn’t completely recovered, the City Council has determined that these investments are needed to move Sanford into the future. And, given the City’s sound financial management, Sanford can borrow money at low interest rates and issuance costs, thus saving Sanford taxpayers hundreds of thousands of dollars over the repayment period.

The City will have 7 years (can be extended to 10) to issue/sell the bonds and 20 years to pay back the bonds after the funds are borrowed. 

Show All Answers

1. What is a bond referendum?
2. What is the purpose of a bond referendum?
3. Why use bond financing for these projects?
4. How much would the City issue in bonds?
5. Does this mean the City will wait 7 years to begin these projects?
6. Can I vote for some bond issues but not others?
7. What is the total tax rate implication for each bond referendum question?
8. Will taxes be applied to real property, only?
9. What happens if the bonds don’t pass in September?
10. If voters don’t approve the bonds, does this mean that the City Council will be prevented from raising property tax rates in the future?
11. Given the condition of the economy, is now the right time to vote on these particular bond initiatives?
12. If the items included in the bond referendum are approved, how quickly would the projects begin?
13. If the items included in the bond referendum are approved, in what order would they begin?