At a virtual public meeting on April 21, 2020, the Henderson City Council approved the authority to issue general obligation bonds to finance civic construction projects. Future projects could include a new police station and training facility, addition of new parks and recreation facilities in growing west Henderson, rehabilitation of existing facilities in more established areas of Henderson and renovation and upgrades to the Henderson Pavilion. Projects funded from the bond proceeds will still need to be approved at future City Council meetings.
The bond issuance is tax neutral – taxes do not need to be raised due to the maturation of previous debt obligations. While it has up to 18 months to issue the bonds, the City can take advantage of today’s historically low interest rates and save taxpayer money. The bond issuance includes the refinance of older debt which will save the City and the Department of Utility Services more than $9M in interest over the life of the bonds.
Civic construction projects will not only address the community’s infrastructure needs but will also kick start our community’s long-term economic recovery from the COVID-19 public health emergency. Now is the right time to be investing in the future of our community.
Read more at: https://cityofhenderson.com/city-manager/tax-neutral-bond