2019 Bond Information
Thank you to the residents of Fayetteville, who voted in favor of all ten of the proposed bond initiatives!
- The City Council will have to approve the issuing of the individual bond for each project that the voters approved.
- The figures for each project below are stated as maximums. Actual amounts may be lower, depending on financing and interest rates available at the time the bonds are issued.
- On April 9, 2019, the Citizens voted to authorize Sales Tax Bonds of up to $226,065,000 for various purposes as specified in Ordinance 6126 approved by the City Council.
- Phase One of the bond was approved at the June 4 City Council meeting. The Phase One request is to authorize issuance of up to $142,670,000 worth of bonds, allowing for maximum flexibility to adjust to interest rates in effect at the time the bonds are sold. The majority of the work from each bond issuance must be completed within three years. Details of each of the proposed Phase One projects are linked to each major bond question listed below.
1. Refinancing of the current outstanding sales tax bonds – not to exceed $12.2 million. PASSED
2. Street Improvement Projects - not to exceed $73,925,000. PASSED
3. Trail Improvement Projects - not to exceed $6,865,000. PASSED
4. Drainage Improvement Projects - not to exceed $15,840,000. PASSED
5. Park Improvement Projects - not to exceed $26,405,000. PASSED
6. Economic Development Projects -not to exceed $3,170,000. PASSED
Workforce Development is top priority for this fund, ensuring that Fayetteville has the highly skilled workforce needed as our City grows. Other possible projects could include enhancing the City’s incentive program for recruiting new businesses. This could mean fostering public/private partnerships through land acquisition, site development, and improving infrastructure. Learn more about the City's Workforce Development Plan here.
7. City Facilities Improvements - not to exceed $3,170,000. PASSED
8. Construction of a Cultural Arts Corridor - not to exceed $31,685,000. PASSED
Plans for the Cultural Arts Corridor, including new or replacement parking facilities, are still in design. View more about the project here.