Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • 3 Carillon Mutual Funds to Consider Amid Evolving Economic Trends
    • Regular vs direct mutual funds: Higher expense ratio isn’t the only drawback; what else investors should know
    • Is T. Rowe Price Emerging Markets Stock (PRMSX) a Strong Mutual Fund Pick Right Now?
    • Bitcoin ETFs Lose $487 Million: the Reasons
    • RBI repo rate hike: How mutual fund investors should approach equity, debt and SIPs
    • 3 Top-Ranked Dimensional Mutual Funds for Strong Long-Term Returns
    • 3 Small-Cap Value Mutual Funds Poised for Strong Growth
    • Outflows From Bitcoin ETFs Surge As Treasury Yields Rise
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Bonds»Newport residents to vote on $98.5 million Infrastructure Bond in November
    Bonds

    Newport residents to vote on $98.5 million Infrastructure Bond in November

    August 29, 2024


    Newport City Council has approved a resolution formally identifying the project and allocations for the $98.5 million bond that will be placed on the ballot for the November 2024 General Election, aiming to fund various infrastructure projects across the city.

    The bond, if passed by voters, would finance improvements including seawall repairs, road upgrades, and public facility renovations.

    City Manager Colin Kennedy presented the bond proposal to the council, emphasizing its importance for addressing critical infrastructure needs.

    “This articulates where we were at the Capitol improvement plan process end at the end of January,” Kennedy said, outlining the evolution of the proposal.

    The bond would allocate funds to five main categories: intergenerational resiliency and sustainability, roads and sidewalks, utilities, public facilities, and programmatic improvements.

    Key projects include Easton Beach nourishment, Van Zandt Bridge removal, stormwater management, and the redesign of the Maha Centre.

    “We are merely establishing what we feel is important for the voters to know what we intend to do if the bond is improved to improve the future condition of our city”, Kennedy said.

    Kennedy explained that while the $98.5 is a fixed amount that voters must approve, the allocation for specific items can be fluid as some items may come under budget while others may come under budget.

    “What is fixed is what the voters see on the ballot on November 5 that is already approved and in stone from the General Assembly. It has a variety of purposely vague language that ultimately sums up the $98.5 million to give the city maximum flexibility within the boundaries of the legislation,” Kennedy said.

    Some council members expressed concerns about specific allocations, particularly regarding the Rogers High School project and Almy Pond remediation.

    Councilor David Carlin questioned the $10 million allocation for “Rogers HS landfill and disposition of remaining soil; Rogers completion.”

    Kennedy clarified, “Right now, some of it will depend on contingency funds that may be refunded. But right now looks at about $3.3 million remaining for the school.”

    The council voted 5-1 to approve the bond proposal for the November ballot. Councilor Carlin voted against the resolution, while Mayor X was absent for the meeting.

    “This is just really an informational document for the press and for the city to put out so that the public will know what they are voting on”, Vice Chair Ceglie said.

    The conversation lasted about fifty minutes. It begins at approximately 1:01 in the video below.

    YouTube videoYouTube video

    Supporting Documents & Resolution

    More From What’sUpNewp

    Something went wrong. Please refresh the page and/or try again.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    Bonds To Outperform Stocks? BofA’s Savita Subramanian Says S&P 500 Returns May Fall Below 5% Over 10 Years

    October 7, 2026

    Why Retirees Ditching Bonds for SPYI Are Missing the Real Reason to Own Bonds

    October 7, 2026

    Mirae Asset Securities opens October subscription for retail government bonds, expands 10-year tranche to W150b

    October 7, 2026
    Leave A Reply Cancel Reply

    Top Posts

    Collectibles in ETFs May Not Be as Crazy As It Sounds

    October 8, 2026

    How Gulf states are refinancing sovereign wealth funds as Iran war hits revenues

    October 8, 2026

    3 Carillon Mutual Funds to Consider Amid Evolving Economic Trends

    October 8, 2026

    Outflows From Bitcoin ETFs Surge As Treasury Yields Rise

    October 8, 2026
    Don't Miss
    Mutual Funds

    3 Carillon Mutual Funds to Consider Amid Evolving Economic Trends

    October 8, 2026

    Investors considering alternatives to the biggest mutual fund families may find Carillon Mutual Funds worth…

    Regular vs direct mutual funds: Higher expense ratio isn’t the only drawback; what else investors should know

    October 8, 2026

    Is T. Rowe Price Emerging Markets Stock (PRMSX) a Strong Mutual Fund Pick Right Now?

    October 8, 2026

    Bitcoin ETFs Lose $487 Million: the Reasons

    October 8, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Beware doctored photo, WeChat group promoting bogus China investments: Low Yen Ling, Temasek

    May 11, 2025

    We Checked 14 Dividend ETFs Against SCHD in 2026. Not One Beat It

    September 16, 2026

    OpenAI fears people will forms bonds with the AI it developed to fool humans — TradingView News

    August 11, 2024
    Our Picks

    3 Carillon Mutual Funds to Consider Amid Evolving Economic Trends

    October 8, 2026

    Regular vs direct mutual funds: Higher expense ratio isn’t the only drawback; what else investors should know

    October 8, 2026

    Is T. Rowe Price Emerging Markets Stock (PRMSX) a Strong Mutual Fund Pick Right Now?

    October 8, 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.