Fargo asks for more flood bondsThe Fargo City Commission tonight will be asked to approve more than $28 million in bonds to provide more money for the city’s flood buyout program and other flood protection projects on the fast track.
By: Forum staff reports, INFORUM
The Fargo City Commission tonight will be asked to approve more than $28 million in bonds to provide more money for the city’s flood buyout program and other flood protection projects on the fast track.
Commissioners already approved a flood buyout policy and on Aug. 10 authorized $10 million of sales tax revenue bonds to fund the buyout program.
The city’s Finance Committee is now recommending raising that amount to $25 million to provide additional money for the buyout program in 2010.
That $25 million is part of a total of $28.12 million in sales tax revenue bonds the commission is being asked to authorize.
The bonds will be paid off with revenue generated by a voter-approved 1 percent sales tax for infrastructure.
In addition to the buyouts, the money will help pay for deepening and widening Drain 53 and Drain 27 south of 52nd Avenue South, and building temporary levees along the drains to contain them during floods, said City Engineer Mark Bittner.
Such measures will be necessary until the city has a permanent protection system in place, he said.
Sales tax revenue also will pay for a new $650,000 earthen levee, storm sewer and lift station project designed to ease future flood-fighting efforts for the Oak Grove area.
The levee will start just north of the intersection of Oak Street and Eighth Avenue North and run east along the south side of the Mickelson Park softball fields to North River Road.
The commission tonight will consider advertising the project for bids.