The Boulder City Council on Tuesday night gave unanimous approval to a ballot measure that will ask voters this fall to issue $49 million in bonds to pay for the city’s aging infrastructure.
If approved by voters, the bonds would be paid back over 20 years using $4 million a year of existing revenue that’s being freed up as other bonds are paid off and through the city’s accommodations tax and other budget savings. The measure would not raise taxes.
The bonds would pay for improving roads, buying new police equipment, repairing bridges and upgrading other critical infrastructure.
The leaders agreed last month with city staffers and a citizens panel that $49 million is an appropriate amount of bonds — even though the city has a backlog of about $700 million worth of maintenance projects.
If approved, according to City Manager Jane Brautigam, “the projects will start next year.”
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