Cutler Bay Voters Encouraged to Say “Yes” to General Obligation Bond - South Dade News Leader: Opinion

Cutler Bay Voters Encouraged to Say “Yes” to General Obligation Bond

Rafael Casals ICMA-CM, CFM Cutler Bay Town Manager | Posted: Thursday, May 24, 2018 8:27 pm

  It's time for Cutler Bay residents to make one of the most important decisions regarding the future of the Town following the historic 2005 vote for incorporation, transforming the 9.7-square-mile community into one of the youngest incorporated municipalities in the state. A special all mail ballot election is underway to decide if the Town should be authorized to issue general obligation bonds in the amount of $40 million, secured by ad valorem taxes to be levied on each property owner within the Town.

   A general obligation (G.O.) bond is a form of borrowing in which a municipality pledges its full faith and credit (taxing power) to repay the debt with interest over a specified term.

    I support the initiative as the funds could be used to finance  Town improvement projects proposed by citizen input. These programs could

include the acquisition of vacant land parcel(s) for various capital improvement expansions such as development of parks and open spaces,economic development, and/or public facilities. G.O. bonds are  generally the least costly financing option available to the Town for funding these projects.

   The G.O. Bond must be approved by the voters before we can proceed with implementation. On May 16, all registered voters will be mailed ballots with return postage included. All completed ballots must be received at Miami Dade Elections by 7:00pm on Tuesday, June 5, 2018.

   I encourage residents who have suggestions or questions for Town leaders regarding the G.O. Bond to attend the next public session on Tuesday, May 22, at 7 PM at the Town Hall Council Chambers, located at 10720 Caribbean Boulevard.

   Watch for your G.O. Bond ballot in the mail. Your timely response is

needed to help shape the future of our growing community.