Resolution - Approve a Bond Referendum Not to Exceed $34 million General Obligation Bonds in One or More Series to Finance the Construction of Transportation and Mobility Improvements, Calling a Bond Referendum for the Electors of Marco Island on August 18, 2026 - Casey Lucius, Interim City Manager — Resolution 26-20 — City Council (2026-05-04)

AI Summary

The City of Marco Island passed Resolution 26-20 on May 5, 2026, authorizing the issuance of up to $34 million in general obligation bonds for transportation and mobility improvements, including bridge replacements, roadway enhancements, and pedestrian and bicycle safety initiatives. A bond referendum is scheduled for August 18, 2026, where qualified city electors will vote to approve or reject the bond issuance. If approved, the bonds will be repaid from the city's ad valorem (property) tax revenue, with a maximum 20-year maturity period.