What are councilmanic bonds?

General obligation bonds and limited and unlimited tax general obligation (LTGO) have been the traditional form of financing for capital projects such as administrative facilities (City Halls, Courts, etc.) owned and operated by government.

Councilmanic bonds, also known as limited LTGOs, may be issued by a vote of the legislative body of government entity. Councilmanic bonds do not require a ballot vote. Because voters are not asked to approve a tax increase to pay for the principal and interest, general fund revenues must be pledged to pay the debt service on LTGO bonds. LTGO debt does not provide any additional revenue to fund debt service payments but must be paid from existing revenue sources. 

Show All Answers

1. Why are City Hall and Municipal Court being remodeled?
2. Are property taxes increasing to pay for the remodel?
3. What is the cost of the Municipal Campus Improvement Project and how is it funded?
4. What improvements are planned for the Municipal Campus?
5. What is the Municipal Campus Master Plan?
6. What are councilmanic bonds?
7. Who is the architect for the design of the remodeled City Hall and new Municipal Court?
8. What approval was granted to allow city services to be provided from a medical facility?
9. Who is the contractor for the City Hall and Municipal Court remodel?
10. When and where will City Hall be temporarily relocated?
11. When and where will the Municipal Court be temporarily located?
12. How long will construction take to complete the remodel of City Hall and Municipal Court?
13. What transit service is available to access the temporary City Hall?
14. What transit service is available to access the temporary Municipal Court?
15. Is the Monroe Police Department moving?
16. Is the Parks and Recreation Department moving?
17. Is the Public Works Department moving?
18. How can I pay my utility bill?
19. How can I get a land use, engineering, building, fire or other permit?
20. Where will City Council and council committee meetings be held?
21. Where will city advisory board meetings be held?
22. What is the format of city meetings?