What are GO Bonds?
General Obligation bonds, also known as GO Bonds, are bonds issued by the city and backed by the full faith and credit of the city that allow us to borrow money to help pay for infrastructure-related projects.
On April 4, Kansas City voters will have the opportunity to vote on a package of three GO Bond questions: one for streets, bridges, and sidewalks, one for flood control, and one for building upgrades and repairs to the animal shelter.
Voting YES on all three GO Bond questions is important because Kansas City is growing and thriving like never before. The GO Bonds will allow us to upgrade and repair our aging infrastructure AND create jobs across the city.
Why Do We Need Them?
Geographically speaking, Kansas City has a very large footprint. The city covers a lot of square miles spread out over multiple counties. Taking care of all the infrastructure needs in a city that big requires a lot of dedicated resources. Thanks to the economic challenges the entire country experienced in the last decade, a lot of Kansas City’s infrastructure needs were deferred.
We also need them because Kansas City is growing and thriving like never before. The GO Bonds will allow us to upgrade and repair our aging infrastructure AND create jobs across the city.
Because interest rates are low and because we have the opportunity to leverage some federal grant money for some of our infrastructure needs, the time is right to borrow the money we need to take care of our rapidly deteriorating infrastructure.
How Do We Pay for Them?
The GO Bonds will be paid for with a modest property tax increase. Paying back $800 million over 20 years will result in a property tax increase of just $8 more on average each year for the typical homeowner.
What is “Infrastructure?”
The revenue provided to the city from the GO Bonds can only be used on projects related to the city’s infrastructure. Specifically, that means that money from the GO Bonds can only be used for projects that are primarily construction-focused like improving streets, repairing sidewalks, updating bridges, building flood controls, and upgrading public buildings, just to name a few. A limited amount of the resources may be used for administering the projects, but that will be a small fraction of the spending. Money from the GO Bonds will go toward getting critical projects paid for to keep our city up and running based on a needs assessment provided by the city.