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St. Charles Seeks $15.7 Million for New Fire Station, Public Works Facility, More

St. Charles will ask voters to approve issuing three propositions in general obligation bonds for a new fire station, public works building, and city parking garage repairs.

St. Charles voters will be asked in November to approve issuing $15.7 million in general obligation bonds this fall to pay for three big projects.

voted on Tuesday to put the three propositions on the Nov. 6 ballot.

Council members say the projects are necessary to complete and will be done even if residents fail to pass the $15.7 million in propositions. 

 The three propositions are: 

  • Proposition 1: Issuing $8.3 million for building a public works facility
  • Proposition 2: Issuing $3.3 million for repairing City Hall parking garage
  • Proposition 3: Issuing $4.1 million for constructing and furnishing a fire station. The total cost will be $5.4 million but the city has $1.5 million cash for the project

City Administrator Michael Spurgeon said using general obligation bonds will allow the city to save $1 million during the 20-year life of the bonds.

Should residents fail to approve the propositions, the city would seek a different financing method, which could cost more money in the long-term. 

Spurgeon said the city is presenting this as no tax increase bonds which will be paid for using casino revenue, and capacity in the property tax levy that can be put toward debt service.

“By not going forward with the project it helped us to be able to present this in such a way as it’s not a tax increase to property owners,” he said.

Read our past stories about this issue here:

Dino McDonnell August 10, 2012 at 10:18 PM
Where to start, well first we have to go back and ask why the city council approved municipal bonds for the streets of St. Charles project knowing good and well that these projects were in waiting. I know they told us that the development would pay for these bonds but here we are several years into this project and we are being warned that the city might have to pitch in some money to pay back these bonds. Remember that every one of our tax dollars that go to pay back these bonds is less we have for other more needed projects in the city. I think Prop 1 will have to be put on the back burner until we can get spending under control especially on commercial projects. Prop 2 and 3 are safety issues and need to be passed.

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