Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Large & mid-cap mutual funds vs separate portfolio split: How do their returns compare over 1, 3 and 5 years?
    • Why mutual fund investors often earn less than the fund’s reported return
    • CI Global Asset Management Launches Global Small/Mid-Cap and International Growth Equity Mandates, Providing New Diversification Options for Mutual Fund and ETF Investors
    • US treasury secretary hails government’s buy back of bonds a success | US economy
    • Warren Buffett’s 1969 warning for mutual fund investors: What if your star fund manager quits? – Money News
    • 3 Defence Mutual Funds to Keep an Eye on in 2027 – Money Insights News
    • Spot BTC, ETH, and SOL ETFs see record inflows amid macro pressures
    • Wynn Macau Ltd lowers conversion price of US$600 million convertible bonds after interim dividend declaration – IAG
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Bonds»Marina Council calls for $50M bond measure for Nov. ballot, voters to decide – Monterey Herald
    Bonds

    Marina Council calls for $50M bond measure for Nov. ballot, voters to decide – Monterey Herald

    August 9, 2024


    MARINA – The Marina City Council will leave it to the electorate of the city to decide on the prospect of whether or not the city gets money to fund the construction of new facilities.

    The Council voted 4-1 at its meeting Wednesday, with Mayor Bruce Delgado dissenting, to place the $50 million general obligation bond on the November 2024 ballot to build a fire station, police station and community center in the city of Marina.

    Delgado has said he believes that though the need is there, it would be easier to get a bond measure passed if it were a smaller amount to fund one of the three projects, namely the fire station, that the bond is proposing to cover.

    The Marina City Council has been studying putting a bond measure before its citizens for a number of years and has held workshops, study sessions and public forums to find a path forward. It recently held a study meeting that included an open house for the public, presentations by city staff and RNT Architects, that covered topics such as facility needs assessment review, cost estimates and potential locations.

    At its meeting in late July, the council considered four options for construction and costs, landing on the third option to construct three projects.

    Option 1 would be the construction of a new fire station with an approximate cost of $16 million dollars.

    Option 2 would be the construction of a new fire and police station with an approximate total cost of $33.5 million (fire $16 million and police $17.5 million).

    Option 3 would be the construction of a new fire and police station and a community center, with an approximate total cost of $55 million (fire $16 million, police $17.5 million and community center $21.5 million).

    Option 4 would be the construction of a new fire and police station, city offices and renovation of existing public safety building and community center into a recreational campus at Hillcrest with an approximate total cost of $62.5 million (fire $16 million, police $17.5 million, community center $21.5 million and renovation of Hillcrest campus $7.5 million).

    “We got direction at our last meeting from the City Council to place on the ballot a $50 million general obligation bond on the November 2024 election ballot to build a fire station, police station and community center,” said Marina City Manager Layne Long.

    The cost of the general obligation bond is an average over a 30-year period of time and comes out to $54.74 annually or $4.50 monthly per $100,000 of assessed value of property, explained Long. The median assessed value for a single-family home in Marina is $496,962. The median is the midpoint of home values with 50% being higher and 50% being lower.

    The approximate cost for a $50 million bond for a median single-family home in Marina with an assessed value of $497,000 would be $22.70 per month or $272 annually.

    The actions taken during Wednesday’s meeting included approving a resolution and ordinance placing the measure on the November 2024 election ballot, approve the ballot measure language and appoint two members from the city council to write arguments supporting the bond measure and potential rebuttal arguments.

    The Council needed to take action Wednesday as it had a deadline of Aug. 7 to put a measure on the ballot. Friday was the last day for the city to file the local measure with the Monterey County Registrar of Voters.

    At previous meetings, the Council reviewed several potential sites for city facilities including the existing civic center site, Locke Paddon park, a site adjacent to the Marina/Salinas Transit station, Cypress Knolls and Vince DiMaggio Park.

    The Council decided not to identify a specific site for the community center buildings, as several potential identified sites will work. A more engaged process with the public identifying the specific sites for the community center facilities will happen later if the bond is approved.

    Originally Published: August 9, 2024 at 2:21 p.m.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    US treasury secretary hails government’s buy back of bonds a success | US economy

    September 15, 2026

    Wynn Macau Ltd lowers conversion price of US$600 million convertible bonds after interim dividend declaration – IAG

    September 15, 2026

    U.S. Treasury Auctions 20-Year Bonds at Highest Yield Since 1986

    September 15, 2026
    Leave A Reply Cancel Reply

    Top Posts

    Here Are 3 Canadian ETFs I’d Use to Make Money in My TFSA for Years

    September 7, 2026

    Wynn Macau Ltd lowers conversion price of US$600 million convertible bonds after interim dividend declaration – IAG

    September 15, 2026

    US treasury secretary hails government’s buy back of bonds a success | US economy

    September 15, 2026

    Large & mid-cap mutual funds vs separate portfolio split: How do their returns compare over 1, 3 and 5 years?

    September 15, 2026
    Don't Miss
    Mutual Funds

    Large & mid-cap mutual funds vs separate portfolio split: How do their returns compare over 1, 3 and 5 years?

    September 15, 2026

    If you want exposure to both large-cap and mid-cap stocks, should you invest in a…

    Why mutual fund investors often earn less than the fund’s reported return

    September 15, 2026

    CI Global Asset Management Launches Global Small/Mid-Cap and International Growth Equity Mandates, Providing New Diversification Options for Mutual Fund and ETF Investors

    September 15, 2026

    US treasury secretary hails government’s buy back of bonds a success | US economy

    September 15, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Couchbase rachetée par Haveli Investments pour 1,5 milliard de dollars : le titre s’envole

    June 20, 2025

    This Week in Coins: Ethereum ETFs Up, ETH Price Down as Bitcoin and Trump Take Nashville

    July 27, 2024

    Mutual funds still hate battered software stocks: By the numbers

    May 26, 2026
    Our Picks

    Large & mid-cap mutual funds vs separate portfolio split: How do their returns compare over 1, 3 and 5 years?

    September 15, 2026

    Why mutual fund investors often earn less than the fund’s reported return

    September 15, 2026

    CI Global Asset Management Launches Global Small/Mid-Cap and International Growth Equity Mandates, Providing New Diversification Options for Mutual Fund and ETF Investors

    September 15, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    🇮🇸 CPP Investments and Equinix complete atNorth acquisition to support growth of leading Nordic data center platform

    September 1, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.