After extensive discussion, the city of Murphy plans to move forward with a bond election set for Nov. 7.
Voters will decide on proposed projects in roads, drainage and infrastructure totaling $15.31 million, public safety at $1.83 million, municipal building improvements at $1.34 million, and parks and recreation at $4.28 million for a grand total of $22.96 million. General obligation bonds would fund the proposed projects.
Council approved the bond during the Aug. 15 meeting.
The city would also issue $3.51 million in tax notes and $5.55 million in certificates of obligation to fund water and wastewater improvements.
If approved by voters, the general obligation bonds will be issued in multiple sales for when funds are needed. If half of the projects are ready to start right after the election, then half of the bonds, or $11.48 million, could be sold as early as February 2018. Once the remaining projects are ready to start, the other half of the bonds, or $11.48 million, could be sold in August 2020, in time to be included in the debt levy for the next year.