The City of Newton will be using $5.2-million of General Obligation Corporate Purpose Bond revenue to pay for various projects, ongoing initiatives, and equipment and vehicle purchases. Newton City Administrator Matt Muckler and Finance Officer Lisa Frasier have both stated the borrowing has no current or future effect on the city’s property tax levy. That current levy of $17.10 per thousand dollars of assessed valuation will continue into the upcoming fiscal year that begins July 1st.

Some of the improvements and projects the bond money will pay for include $1.2-million in new equipment and improvements at the City’s Waterworks facilities, $955,000 of downtown street improvements, a $700,000 Stormwater Project at First Avenue East and East 12th Street, $430,000 to asphalt overlay on various streets, and $360,000 for the purchase of an ambulance for the fire department. Third Ward Newton City Councilman Stacy Simbro says that these expenditures are an investment in Newton’s growth.

“Just that investing forward. We have to have that. We want to be a community that people want to move to and live in.”

The Newton City Council unanimously supported the bond issuance during their meeting earlier this week.