Categorized | Local News

Council Approves Bond Issue Language for November Election

Posted on 06 August 2024 by KWBG

BOONE, Iowa—The Boone City Council approved a resolution setting November 5th as the date for a special election an a bond referendum to issue up to $10 million in general obligation bonds or capital loan notes to fund part of the cost for a proposed community recreation complex. The city has already set aside funds for land acquisition. The $10 million would be devoted to constructing, improving and equipping a complex and is the amount that could be financed within the city’s anticipated funding sources. Boone Mayor Eli Stines on KWBG Tuesday morning said plans are to used Local Option Sales Tax funds and additional resources from reappropriated debt service funds. The initial cost has been estimated at $19.7 million. A committee has been formed to raise the remaining $9.7 million through private sources.

ISG, Inc. a Des Moines consulting firm, retained by the council, identified a concept that includes four multi-use courts for basketball, volleyball, pickleball and a retractable turf option. Other features include a walking track, play area, conference room, offices, indoor flex space, restrooms, and outside a multi-use space with natural grass. The conceptual design includes space for future additions and a future indoor aquatics space. The current concept would develop 22 acres, including storm water detention, parking a new road and a 37,000-square-foot building.

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