Fayetteville City Council Approves Taxpayer Bond Issue

by Talk Business & Politics ([email protected]) 49 views 

A measure that would allow Fayetteville voters to decide whether to approve more than $10 million in taxpayer bonds has made it to the ballot, according to KFSM-TV, Channel 5.

The local CBS affiliate reported Fayetteville City Council members voted unanimously (8-0) Tuesday night to set a special election this fall.

Local voters will decide Nov. 12 whether to allow 25 years worth of taxpayer bonds, which includes $6.9 million for the Walton Arts Center’s major expansion at its Fayetteville location.

Also included is $3.5 million to start building a regional sports park near Cato Springs Road.

City officials have deliberated for the past several months whether the current restaurant and hotel bonds should be extended to help fund the two projects.

Earlier this year the Fayetteville Advertising and Promotion Commission approved sending the bond proposal to the City Council for final approval before heading for a public vote.

The proposed regional sports park at Judge Cummings Road is estimated to eventually cost about $20 million.

WAC officials had originally asked for $8.5 million for its expansion, which would add nearly 30,000 square feet of space, including an expanded backstage area, lobby and a new entrance on Dickson St.