Winter Garden to consider sales tax revenue bond for capital improvements

Winter Garden commissioners are set to consider whether to move forward with issuing a sales tax revenue bond to finance capital-improvement projects.

They will discuss Ordinance 21-16 during the June 24 City Commission meeting. Among other conditions, the ordinance would authorize the issuance of a Series 2021 sales tax revenue bond to pay for the projects.

The purpose of the sales tax revenue bond is to finance transportation-related capital improvements and parks and recreation capital improvements. Sales tax revenue bonds differ from most transportation financings because the debt is paid from sales taxes and not from transportation revenues.

The Series 2021 loan proceeds will be used to finance a portion of the planning, acquisition and construction of various city capital projects, including the Dillard Street redesign project.

City Commission meets at 6:30 p.m. in the City Hall commission chambers, 300 W. Plant St. To view the agenda, click here.