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Eloy council considers $4.9M bond to pay for new police building

by | Feb 25, 2021 | Development, Eloy, Government

Eloy council considers $4.9M bond to pay for new police building

by Maria Vasquez | The Eloy Enterprise

The second phase of the Eloy Police Department rennovation project on Feb. 22. Maria Vasquez/PinalCentral

City officials hope to finance the construction of the Police Department building through reimbursement from proceeds of tax-exempt obligations.

Monday the Eloy City Council heard a presentation involving the 2021 Excise Tax and State Shared Revenue bond.

The city is looking at issuing a bond for $4.9 million with a 20-year term with an annual payment of $332,000.

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