Fire Department Improvement Bonds
Funding
The maximum aggregate principal amount of the Fire Department Improvement Bonds is $17,635,000 as approved by Springdale voters. This includes the cost of selling the bonds. The actual construction fund for fire stations and equipment is $16,000,639.38. This amount is subject to change based on the interest earned on the investment.
Related Documents
Ballot Question- 2023 Bond (Special Election on May 9, 2023)
FIRE DEPARTMENT IMPROVEMENT BONDS AND 1% SALES AND USE TAX
An issue of bonds of the City of Springdale in the maximum aggregate principal amount of $7,750,000 for the purpose of financing all or a portion of the costs of facilities, equipment and apparatus for the City's fire department, including particularly, without limitation, a new fire station and training facilities, and any necessary land acquisition and parking, drainage, flood control, street, lighting and utility improvements therefor, professional fees related to any of the foregoing, the establishment of reserves, and bond issuance and any credit enhancement costs, and, in order to pay the bonds, the levy and pledge of a new 1% local sales and use tax within the City that will expire after the bonds have been paid or provision is made therefor in accordance with Arkansas statutes.
FOR…………………………………………………………………………………
AGAINST…………………………………………………………………………
Explanation:
To improve response time for fire and ambulance services in a growing city, we need to build additional fire stations.
Note: The "1% Sales and Use Tax" at the end of each ballot item is not a tax increase. It is an authorization to continue the current 1% sales and use tax that was levied in 2003 and continued in 2006 as approved by Springdale voters.