Explanation of the Capital Improvement Bond

A bond issue is simply a more formal type of financing used by governments than a loan. Loans are usually made to individuals or businesses by commercial banks, whereas bonds are issued by large investment bankers to governments who annually bill property owners with an assessment for their annual proportionate share of the payment needed to be made to the bondholders (investment bankers). The government collects all of these assessments annually from the property tax bills and places the assessments in a debt service fund from which the annual invoice from the investment bankers is paid. This annual payment pays off or retires a specified amount of bonds each year plus interest on all of the outstanding bonds.

These bonds are publicly traded on various stock exchanges by individual investors, brokers and mutual funds. Loans are usually viewed as investments of commercial banks that are typically not traded publicly, but rather are held by the individual bank as an investment by that bank in a particular piece of property. Bonds are intended to be sold publicly as investments that the public can invest in.

The improvements to the park include building a 4-season bathroom, replacing the playground equipment, building a new shed, and replacing the tennis and basketball courts. We will improve the landscaping, walkways and lighting. A new picnic shelter will also be built.

Download the Letter to the Public
Download Printable Petition in favor of the Improvement Bond
Map of Pineview Park and Improvement Ideas