Spokane city officials will hold six public meetings this month on their plan to refinance bonds to raise money for street maintenance and the proposed Riverfront Park Master Plan.
The proposal involves refinancing three older bond issues, paying them off and raising an extra $25 million for streets and $60 million for the Riverfront Park plan. It would pay off the 1999 park bonds, the 2004 street bonds and the 2007 pool bonds, leaving the 91 cents per $1,000 of assessed valuation in place, but extending it for 20 years. The two older bonds are due to expire this year, although the 2007 pool bonds have another 16 years.
City officials liken the plan to a homeowner refinancing to take advantage of lower interest rates.
Citizens also can provide feedback on the proposal by emailing email@example.com or by posting comments to @spokanecity on Facebook or Twitter.