“Approving the bonds is sound business practice, since the finances enable the city to meet these needs without a property tax increase, as decades of experience have shown. The city devotes 19.421 cents of its property-tax levy to general obligation debt service, and the new bonds would be paid for within the existing tax levy. New bonds are issued as older bonds are paid down, leaving the city’s overall debt at a stable level.
Also important: If voters OK $151.3 million in local transportation funds, the city could qualify for an additional $117 million in federal matching funds. And who would argue the city doesn’t need street improvements?
Omaha is a growing city, with many needs. It’s the obligation of taxpayers to fund those needs, keeping city infrastructure in good repair as well as building for a strong future. These bonds represent a prudent investment, using a finance method proven to be sound over years of experience.
Vote “Yes” on the five city bond requests in the May 15 election.”
Excerpted from “Investing In Our Future“, published April 23, 2018 in the Omaha World-Herald