Cleveland Council Approves $140M in Bonds for Two Projects
Post date
March 29, 2021
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By Robert Higgs, cleveland.com
City Council voted Monday, March 22 to sell bonds to raise $140 million in part to cover Cleveland’s commitment to Sherwin-Williams new headquarters and in part to pay for a new police headquarters.
Money from the bonds will also cover up to nearly $60 million in capital improvements to the city’s parks, recreation centers, buildings and city streets.
The legislation needs Mayor Frank Jackson’s signature to take effect, but his administration sought the authority to raise the money, much of which is an annual process to fund capital improvements.