Description
Title: To authorize the issuance of general obligation bonds and notes of the City of Richmond in the maximum principal amount of $135,014,135 to finance the cost of school projects and general capital improvement projects of the City for the following purposes and uses: construction, reconstruction, improvements and equipment for public schools; construction, reconstruction, improvement and equipment for various infrastructure needs, including transit facilities, traffic control facilities, streets, sidewalks and other public ways, bridges, storm sewers, drains and culverts, street lights, floodwall
Summary
Ordinance No. 2026-067, introduced on March 11, 2026, authorizes the City of Richmond to issue general obligation bonds and notes totaling up to $135,014,135. The funds will finance various school projects and essential capital improvements, including infrastructure upgrades, public safety enhancements, and housing developments for low- and moderate-income residents. The legislation also allows for grants and loans to support community development and the construction of public facilities such as libraries and parks. This initiative aims to enhance the quality of life in Richmond, promote economic development, and ensure accessible public services. A public hearing is scheduled for March 23, 2026, to gather community input on this proposal.