The Jefferson City Council recently approved a loan agreement in general obligation bonds for a list of projects.

Of the not to exceed $2.4 million in bonds that have yet to be allocated, some of the funds have already been spent. City Administrator Mike Palmer says items such as a new fire truck, the swimming pool liner and cover have all been paid for through the City’s general fund. When they go to issue the bond, the general fund money will be reimbursed. Other projects, such as a bike path to the Greenewood Center, a new mechanical arm garbage truck with 1,000 garbage containers, and resurfacing of the walking trail at Daubendiek Park, have not had funds spent on them yet.

Palmer notes that even though the Council approved the loan amount, they are not fully committed to the entire list.

“They still have to go back individually and approve these projects as they come along. So it is a hodgepodge of different funding. But there’s going to be a lot of improvement money available now to get some of these projects in town done. But again the Council, they’ll have to review these on a committee level and come to an agreement which ones they want to go on in a year or two.”

Palmer notes the remaining projects span the next two fiscal years. By adding $2.4 million of debt onto the City, the City’s debt capacity will be up to $7 million, or at 55-percent of its capacity. The debt service levy rate will also increase from $2.15 per $1,000 of property valuation to $2.70, which Palmer says it’s been as high as $4 in 2007 and $3 in 2015.

“It keeps coming down. We’ve tried to, as some debt (falls) off, then we’ll add some. But we’re not just raising and raising up our levy all the time. We are wanting to make sure that we retreat some before we get some of these projects together.”

The Council is expected to sell and issue the bonds in their June meeting. You can see below for the full list of the projects that are slated for the bonds.

2020 fiscal year expenses ($1,541,000)

• $350,000 for Greenwood Bike Trail
• $245,000 for mechanical arm garbage truck
• $200,000 for new sidewalk to new high school
• $185,000 for a rear-loading garbage truck
• $125,000 for a fire truck
• $100,000 for the City Hall elevador
• $100,000 for 2000 garage containers
• $85,000 for the swimming pool liner
• $40,000 to pave the City Hall parking lot
• $35,000 for golf course equipment
• $26,000 for setup and delivery of garbage containers
• $25,000 for swimming pool cover
• $25,000 for resurfacing north square alleyway

2021 fiscal year expenses ($815,000)

• $400,000 for East Entryway
• $325,000 for resurfacing Daubendiek Park
• $50,000 to re-do the entrance of City Hall
• $40,000 for golf course equipment