June 25, 2024Asheville City Council
From the minutes, not yet reviewedCouncil introduces four $20 million bond orders for housing, transportation, parks and public safety.
The four bond orders are $20 million each for housing, transportation, parks and recreation, and public safety. Council also set a public hearing on them for July 23, 2024. That night, Council will be asked to adopt the orders and set a November 2024 bond vote. It must also finalize the amounts, which can be lowered but not raised.
Watch the consent-agenda vote, at 13:45(time from the video's captions)- Passed with the routine items, in one vote, without discussion.
What this changes: If the bonds are approved in November 2024, the City says an added tax will be needed to repay them. Council would adopt it in the 2025-26 budget.
Still pending: No bonds have been approved yet. The hearing, the vote to adopt the orders and the November 2024 bond vote still lie ahead.
What that means
- Consent agenda:
- Routine items Council approves together in one vote, without discussion. Any member can pull an item out for its own vote.
- Bonds:
- Bonds are loans the City pays back over many years, with interest.
- Public hearing:
- A time at a Council meeting when anyone can speak about the item before Council votes on it.
More from the minutes
- “It is at the July 23 meeting when Council will be required to finalize the amounts in the four bond categories (amounts can be lowered from the current proposed amounts but can not be increased).”
- “Provide enhanced funding for transportation, parks and recreation, affordable housing, and public safety infrastructure needs as identified in City master plans and Council strategic goals utilizing GO Bonds, which come with the lowest possible interest rates.”
Official title: General Obligation bond(s) introduction of Bond order authorizing the issuance of $20,000,000 general Obligation housing bonds of the City of Asheville, North Carolina introduction of Bond order authorizing the issuance of $20,000,000 general Obligation Transportation bonds of the City of Asheville, North Carolina introduction of Bond order authorizing the issuance of $20,000,000 general Obligation Parks and Recreation bonds of the City of Asheville, North Carolina introduction of Bond order authorizing the issuance of $20,000,000 general Obligation Public Safety bonds of the City of Asheville, North Carolina
Carried unanimously, as part of the consent agenda
From the minutes: This motion was seconded by Councilwoman Turner and carried unanimously.
Read the motion as recorded
“GENERAL OBLIGATION BOND(S) INTRODUCTION OF BOND ORDER AUTHORIZING THE ISSUANCE OF $20,000,000 GENERAL OBLIGATION HOUSING BONDS OF THE CITY OF ASHEVILLE, NORTH CAROLINA INTRODUCTION OF BOND ORDER AUTHORIZING THE ISSUANCE OF $20,000,000 GENERAL OBLIGATION TRANSPORTATION BONDS OF THE CITY OF ASHEVILLE, NORTH CAROLINA INTRODUCTION OF BOND ORDER AUTHORIZING THE ISSUANCE OF $20,000,000 GENERAL OBLIGATION PARKS AND RECREATION BONDS OF THE CITY OF ASHEVILLE, NORTH CAROLINA INTRODUCTION OF BOND ORDER AUTHORIZING THE ISSUANCE OF $20,000,000 GENERAL OBLIGATION PUBLIC SAFETY BONDS OF THE CITY OF ASHEVILLE, NORTH CAROLINA”
Open the minutesConsent agenda, item E