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Conway voters may be asked to approve more issued bonds

Posted: June 9, 2014 - 11:53am

A special election could be held on Sept. 9 to allow Conway residents to vote on whether to issue refunding bonds and street improvement bonds, the total of which would not exceed $21 million.

The possibility of a special election will be discussed at the Conway City Council meting at 6:30 p.m. Tuesday at the District Court Building.

Currently, a principal amount of about $8.5 million in prior bonds are outstanding, and an ordinance to be considered by the council states that “additional revenues can be obtained to finance critically needed street improvements by restructuring existing indebtedness secured by sales and tax use receipts through the refunding of prior bonds.”

The payment of the bonds would be based off of the receipts of the citywide sales and use tax, which sits at about one-eighth of one percent and was approved by Conway citizens in 2012. According to the ordinance, the $21 million in bonds would finance city street improvements, which have been detailed in earlier committee meetings. Some of these include road improvements needed in order to secure construction of the newly planned Central Landing shopping center, which will be placed where the former Conway Municipal Airport resided.

If the election is approved, voters would be able to vote on two separate measures, one of refunding bonds and one on street improvement bonds.

In other business, the council will consider:

• a resolution requesting the Faulkner County Tax Collector place a lien against property located at 1923 Washington Ave., for expenses incurred by the City;

• entering into an agreement for on-call services for professional engineering services for the Conway Street Department;

• awarding the bid for the fuel system and authorize the Mayor to apply for the Arkansas Department of Aeronautic Grant for the new Conway Municipal Airport;

• an ordinance to accept donations and appropriate funds for the City of Conway Dog Park located at the Don Owens Sport Complex;

• an ordinance appropriating funding for the construction of Braves Field and renovation of Peyton Hillis Field for the Conway Parks & Recreation Department;

• accepting the proposal submitted by Terracon for the assessment of and possible turn-key development of a landfill gas-to-energy project at the Conway Landfill;

• seeking authorization for the City Attorney’s office to file suit against North America Recycling for the Conway Sanitation Department;

• an adjustment request from Haynie Companies (KFC) from the Conway Sanitation Department;

• removing computer equipment from the asset inventory for the Conway IT Dept;

• an ordinance accepting donated computer equipment to the Conway IT Department;

• an ordinance accepting and appropriating grant proceeds awarded to the City of Conway – 2014 Court Security Grant;

• an ordinance appropriating funds from various donors for the Conway Fire Department;

• an ordinance appropriating reimbursement funds from various entities for the Conway Animal Welfare Unit;

• an ordinance appropriating reimbursement funds from various entities for the Conway Police Department;

• an ordinance accepting donated funds from Conway Public Schools for a K9 police dog for the Conway Police Department;

• applying for the 2014 Justice Assistance Grant for the Conway Police Department; and

• entering into an agreement with the Conway Public Schools for the School Resource Officer Program for the 2014-15 school year.

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Elmer Fudd
5086
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Elmer Fudd 06/09/14 - 12:42 pm
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Forum members

and other citizens. I urge all of you to attend this meeting or catch it on the net or local Conway Corp. channel 5. People are clueless as to how the City Government works or in the case of ours many times does not. View with a open mind and reach your on conclusions.

BigDaddyD
682
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BigDaddyD 06/10/14 - 10:48 am
1
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This stinks

Conway is broke, but can afford a special election. Really?
A general election will be held in November, why can't this vote wait?
What happens if these measures are voted down?
Who is making these decisions?

Elmer Fudd
5086
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Elmer Fudd 06/10/14 - 11:15 am
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BigDaddyD

Just check out the council meeting tonight like i suggested and you might get some answers.

c'mon man
1371
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c'mon man 06/10/14 - 03:51 pm
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I hope

there is a good recap of the meeting on this site tomorrow. I won't be able to go to the meeting and don't have Conway Corp Channel 5 to record it.

Elmer Fudd
5086
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Elmer Fudd 06/11/14 - 09:16 am
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C'mon man

The LCD will have it out but in the past they leave out what i feel is the meat of issues at hand. We shall see.

Elmer Fudd
5086
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Elmer Fudd 06/12/14 - 12:50 pm
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C'mon man

As you can see the council meeting is not even covered in the on line version of the LCD. Although the special election for the bid issue approval is on the front page of the printed version. The council approved this using the very often misused "emergency clause". They used this to purchase the 135k Christmas tree if you remember. Nothing is mentioned as to how much this special election would cost nor how much the city will be out to service these bonds which comment us taxpayers through 2044. Okay LCD your chance to jump in and get this info and put it out there for all of us to see. How about it?

ucantbserious
30573
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ucantbserious 06/11/14 - 05:41 am
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Special election

It's for the same reason it always is whenever there is a vote needed for a new tax or a re-dedication of an existing one. In a special election for a single issue only the hardcore will take the time to go vote. It's usually just the cronies who have been drummed up to go do it. Then it passes and a new tax has been placed on the citizens of Conway from the votes of just a few hundred people. Voila!

Lilly03
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Lilly03 06/13/14 - 03:53 pm
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Arkansas Business is

Arkansas Business is reporting that the election has been set for Sept 9th.
I do not recall reading any updates from the LCD on this matter. Did I miss it?

Elmer Fudd
5086
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Elmer Fudd 06/13/14 - 05:19 pm
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Lilly03

It was in the printed version on June 12.

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