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The district approved up to $7.5 million in general obligation bonds to fund Ray Avenue street improvements. The bonds will be repaid over 25 years through secondary property taxes on taxable property in the district; the resolution passed 6-0, with one vote excused.
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The approved financing allows the district to move forward with Ray Avenue improvements. Property owners within the district will repay the bonds through an additional property tax over 25 years. A public hearing on the project drew no comments.
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