Gastineau bond issuance, project funds up for Assembly

Posted: Monday, March 21, 2011

The City and Borough of Juneau will look at issuing $5.7 million in bonds for Gastineau Elementary School at tonight’s meeting.

Voters approved a bond measure in 2009 authorizing $11.8 million in debt; about half of that has already been issued.

The bonds qualify for 70 percent reimbursement under the state’s School Construction Bond Debt Reimbursement Program, subject to annual appropriation. After the state’s reimbursement, debt service would be paid from property taxes. The estimated total cost of the debt, including interest is more than $6.8 million. The city anticipates reimbursements of $4.8 million for full state funding, leaving $2.1 million to be paid by property taxes.

The city is also seeking Assembly approval for $480,000 in partial funding for the North Douglas and west Mendenhall Valley sewer expansion project and $2 million for additional funds for the Bartlett Regional Hospital roof replacement project.

It also will consider allowing low-speed vehicles on certain roads. This will include roads within the city and borough with speed limits of less than 45 miles per hour. Vehicles must pull to the furthest right side of the road to allow others to pass once there are four or more vehicles behind it.

The local office of the U.S. Forest Service has a low-speed vehicle it wants to operate and requested an ordinance that adopts the state definition of a low-speed vehicle.

For a full agenda of today’s assembly meeting, which is at 7 p.m. at City Hall, visit http://bit.ly/hZB1B6.

• Contact reporter Sarah Day at 523-2279 or at sarah.day@juneauempire.com.



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