The report acknowledges that there is no room in the budget to do the work. But the city could raise the necessary funds through either general obligation bonds or certificates of participation.,
Spyder CoatsA bond measure would need a two-thirds majority to pass. Whether voters are willing to support such a funding mechanism remains unknown. When city officials last floated the idea in 2007, polling revealed only 57 percent of voters would be willing to support a $50 million bond.
The report notes that general obligation bonds funded recent library and school infrastructure improvements. The library bond currently adds $15.50 per $100,
Spyder Skiwear,000 in assessed value to each property owner's tax bill, or about $125 per year for a home appraised at $800,000.
The city could bypass voters by taking out certificates of participation,
spyder jacket, but the project would end up costing 15 to 20 percent more than if it was financed through general obligation bonds. The 10-year rate for bonds is 4.67 percent versus 5.52 percent for certificates, according to the report.