A special mail ballot election will be held on Tuesday, June 5, 2018 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. G.O. bonds are generally the least costly financing option available to the Town for funding these projects.
“Shall the Town of Cutler Bay issue general obligation bonds not exceeding $40,000,000, in one or more series, as tax-exempt and/or taxable bonds, maturing not later than thirty years from their issuance dates, bearing interest not exceeding the maximum allowable by law, payable from ad valorem taxes levied by the town, to acquire and improve property for parks, open space, public facilities, and economic development?”
If approved, the $40 Million of bonds will be used to acquire property which may be used for any or all of the following:
The Town is asking all registered voters who live in Cutler Bay to vote on the GO Bond Issue. If you are not already a registered voter, the last day to register to vote in the bond referendum is Monday, May 7, 2018. Visit miamidade.gov/elections or call 3-1-1 to register or check your registration status.
If approved, what will be the cost to me?
We are proud to say that making Cutler Bay “An Excellent Place to Live. Work. Play.” is at the heart of all we do. Over the years, our passion for excellence has earned us awards and recognition for various initiatives across multiple departments. To highlight just a few:
Click here to see our full list of awards and recognition organized by department.