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News: Comp Plan Approval Delayed December 5th, 2007
News: CRA Bond Bids Considered November 28th, 2007
News: 118 Pies, Going, Going, Gone November 19th, 2007
News: Cedar Key Boy Captures Meteorite November 15th, 2007
News: CKAA Concern about Poaching November 13th, 2007
News: Big Dock Reconstruction Begins / Updated Nov. 14 November 13th, 2007
News: Halloween 2007 in Cedar Key October 31st, 2007
News: Down with the Old, Up with the New October 25th, 2007
News: Living Shorelines vs. Seawalls October 24th, 2007
News: Vandals at Anchor Hole October 22nd, 2007
News: Cedar Key Seafood Fest on a Roll October 20th, 2007
News: Bids in to Fix Big Dock October 16th, 2007
News: Otter Creek Tractor Accident Injures Child October 15th, 2007
News: Meet Father Georges October 12th, 2007
News: Woman`s Club Seeks Help with "Support Our Troops" September 28th, 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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