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Strategic Plan | Financially sound and transparent government

Posted on: April 15, 2022

Bond issuance approved for $25.5M in improvements to City services

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APRIL 15, 2022 - City Council approved a $25,521,00 bond issuance to be used for improvements to the City’s park system, transportation infrastructure, and library and fire services. These funds were authorized by Allen voters in the 2016 General Obligation Bond Election, which permitted the City to issue a $93,150,000 debt for the purpose of improving these services.

Specifically, the bonds are being sold for Fire Station 6 in the amount of $8,145,000; Phase 2 of the Allen Public Library expansion in the amount of $13,614,000; street projects in an amount of $762,000; and land acquisition in the amount of $3,000,000 by the Parks and Recreation Department, for a total issuance amount of $25,521,000.

The bond sale is planned so that the City's tax rate will not increase from its current rate of $0.47.

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