General obligation bonds for levy collection were issued at the city commission meeting Monday evening.
The GOB bonds will be for $2,945,000 that will fund several street improvements and reconstruction.
"The street improvements had previously been approved," city finance director Nannette Pogue said. "The public bid for the bonds went to Commerce Bank with an interest rate of 2.049933 percent."
The commissioners also approved the resolution for the forms and details directing the sale and delivery of the GOB bonds from the approved ordinance.
The funding will be for Trail Street reconstruction near the National Beef entrance; 1st Avenue reconstruction and waterline replacement; Arkansas River sediment removal; street improvements on Market Street, Soule Street and 6th Avenue; stormwater improvements for the Avenue K RCB design; 4th Avenue reconstruction and 6th Avenue Extension.
Commissioners also approved another public hearing for advisability on creating a community improvement district.
"McDonald's restaurant has requested to be included in the new CID along Wyatt Earp," Pogue said. "It would be part of a new commercial building going in along Wyatt Earp and they request a half percent sales tax to anything purchased at that restaurant up to 22 years.
"It would be funded through levying the special assessments."
The hearing was set for June 5 at 7 p.m. at city hall.
The commissioners also approved a bid from Malm Construction Company for $222,833.78 for rough grading on 6th Avenue from Ross Boulevard to the city limits.
The project would be completed to allow Candletree #8 to start developing and prepare the earthwork for paving.
"It would allow more access to the neighborhoods and Legends Park," director of administration Ryan Reid said. "The engineers estimate for the project was $360,089 so the bid came in well under budget."
