NORTH PORT — Despite estimated costs increasing $5 million, city commissioners voted 5-0 Tuesday to continue an ordinance for first reading on a bond referendum for citywide road rehabilitation.
A recent memo from North Port City Manager Jonathan Lewis to commissioners explained the bond issuance needed to be raised from $41 million to $46 million. Lewis said, as with buying a house, there are certain extra costs. He said in order to obtain the
$41 million for roads, an additional $5 million would be needed to cover issuing the bond, insurance and debt reserve.
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