Prop P Projects to be Unveiled at Board Meeting
St. Peters officials will begin deciding projects to be funded after the passage of a sales tax increase earlier this month.
The voters in St. Peters passed Proposition P earlier this month . Now city officials will start the process of picking projects to work on with money earned from the sales tax increase.
During Thursday's work session the St. Peters Board of Aldermen, Assistant City Administrator Tim Wilkinson will give a presentation on what the city plans to do with the first wave of funds from Prop P. Included in the list is a series of projects and projected completion dates.
Several of the items, such as replacing the scoreboard at the Rec-Plex Natatorium are scheduled to be completed as early as this fall. Other items, like a pavilion/restroom at Community Park are slated to be finished in the fall of 2014.
Before any of the projects can begin, the board will need to spend the next several months securing funds. The board will be asked to take steps to issue $4 million in General Obligation Bonds to fund the StormWater Projects targeted for completion in 2012 and 2013. To do this, the Board will be asked to pass a resolution of intent on Sept. 13 to reimburse for expenditures made between September and the actual bond sale date. At the same meeting, the board will be asked to approve a resolution authorizing bond sales. At the Nov. 15 meeting, the board will be asked to approve the bond sales.
Along with the bonds, the city will be creating a new budget for general fund and park/stormwater fund budgets for passage at the Sept. 27 meeting.
Speaking of the budget, the Board will get a budget update at Thursday's work session and, during Thursday's meeting will conclude the public hearing on the proposed budget for fiscal year 2012-13.
The work session, which starts at 5 p.m., and the meeting, which begins at 7 p.m., will both take place at the Justice Center.