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News: Garbage Removal Fees Go Up February 21st, 2008
News: Horse-drawn Carriage Must Keep Moving February 20th, 2008
News: Public Speaking for Youths February 18th, 2008
News: Planned Housing Density "Defined" February 15th, 2008
News: Building Department Hires New Code Enforcement Officer February 12th, 2008
News: Dog Grooming Made Easy February 11th, 2008
News: Big Dock Update February 5 February 5th, 2008
News: Draft Comp Plan Draws Critics` Pleas February 2nd, 2008
News: Obama and McCain Win in Cedar Key January 30th, 2008
News: Lions Give $$$$$ For Playground January 25th, 2008
News: Commission Makes Quick Work of Agenda January 9th, 2008
News: Historic Wood Reclaimed by Local Furniture Manufacturer January 6th, 2008
News: Drilling for Pilings Starts / Contest Entry Forms December 18th, 2007
News: Police Report December 13 December 13th, 2007
News: $9,200,000 Bond Issue Approved December 5th, 2007
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Future Bond Issues Need Voter Approval | Future Bond Issues Need Voter ApprovalJim Hoy The Florida Supreme Court ruled September 6 that bond issues using property taxes derived from redevelopment programs must be approved of by voters, i.e. by referendum. According to an Associated Press article, the court's unanimous decision "will affect all future tax increment financing projects across Florida." A $135 million bond issue by Escambia County precipitated the court action. How this court decision affects the $9,200,000 bond issue that the City of Cedar Key has planned for 2008 may hinge on the word "future." Mayor/Commissioner Paul Oliver told Cedar Key News that the local bond issue is already underway, but that any future bond issues will need voter approval. Commissioner Gene Hodges, who was elected in May 2007, has regularly questioned the wisdom of the bond issue. Regarding the new requirement of voter approval of a bond issue, Hodges said, "It may not be a bad idea to put a bond issue before the voters." The bonds in question will be paid off over four years with money received from Levy County in the form of property taxes earmarked for the Cedar Key Community Redevelopment Agency. |
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