Dubuque County Conservation says it will cost county tax payers more than first projected to support a proposed $18-million dollar bond referendum in November.
The Conservation Board says a calculation revision by its financial advisor revised from $4.88 per $100,000 of residential home assessed value to $9.58 per $100-thousand-dollars. The board says the estimate assumes the entire $18-million dollar bond would be issued up front with interest on the entire amount paid over twenty years.
The board says it intends to issue bonds in four or five increments of the 20-years which would lower the cost to taxpayers to $6.50 per $100-thousand dollars of assessed value.
The money would be used to fund improvements at the new Locher Lake area and other county parks.
In November, 60 percent of voters must approve for the bond issue to pass.
