Fairfax advances road repair bond measure to ballot
A $18 million bond measure to fund road maintenance and repairs in Fairfax will appear on the Nov. 5 ballot.
The Town Council unanimously voted at its meeting on Wednesday to put the measure to the electorate. The measure would impose a property tax of $30 per $100,000 in assessed value, raising an estimated $1.2 million per year in revenue.
Councilmember Bruce Ackerman, voicing his support for the measure, noted that all of the interest would not have to be paid from the beginning.
“Typically once the bond measure passes, should it pass, which I hope it does, there would not be $18 million borrowed immediately,” said Ackerman said. “We can’t spend $18 million immediately. There aren’t enough bulldozers.”
https://www.marinij.com/2024/08/08/fairfax-advances-road-repair-bond-measure-to-ballot/
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