News

St. Cloud decides bond issue

Photo: Comstock, Photos.com

Nov 6, 2012 at 7:26 am

ST. CLOUD, Minn. (KNSI) St. Cloud voters will decide an $18 million bond issue at the polls today.

If it passes, the money would be used to catch up on a backlog of street repair projects in the city. The construction work would be done over a four year period starting in 2013.

Property taxes would go up to pay for the work. The average-priced home in St. Cloud would see an estimated $23 a year increase on their property taxes for ten years starting in 2014.

St. Cloud Mayor Dave Kleis says now is a good time to do the work. He says St. Cloud can get a low interest rate because of its bond rating, and contractors are anxious for work, and that could mean attratctive construction bids.