Gilbert’s Town Council could vote to issue $82 million in bonds at its Tuesday night meeting.
The money will pay for six projects, one already completed and others planned: $10.2 million for purchase of the Rittenhouse Basin, $8 million to buy land for a future special events venue, $13.4 million for the Upper Chandler Heights basin, $24 million for an activity center on the southwest side of town, $14.4 million for a public safety training facility, $2.8 million for preservation of downtown’s water tower and $7.6 million for a downtown parking garage.
The 20-year tax-exempt municipal bonds will be backed with sales tax and impact fee revenues. The price of the bonds will be negotiated during the week of March 2. More information about the bond issue is in a PDF-formatted document available through the town’s Web site.
