City of Peoria Press Release
Printer Friendly Version
Council OKs Issuance of $68.4 million in Construction Bonds
The Peoria City Council on Jan. 20 ordered the sale of $68.4 million in general obligation bonds to pay for various projects in the city’s Fiscal Year 2009 Capital Improvement Plan. The projects were approved by the City Council in June 2008 and by voters in 2000 and 2005 referenda. Many of the projects already are under way; the city will be reimbursed from the bond proceeds for costs already incurred. The $68.4 million comprises $47 million for street projects, almost $6 million for the Municipal Court expansion, $14 million for storm drainage and $1.2 million for parks and trails.