BRADENTON, Fla. - Lake Worth, Fla., has planned a series of public meetings to discuss road and infrastructure improvements, some of which are expected to be financed with $60 million in bonds.
The city of 37,000 residents on the state's east coast is implementing Lake Worth 2020, a master plan of capital improvements for water, sewer, stormwater, road resurfacing, landscaping, street lighting, and enhancements at an industrial park.
A portion of the improvements would be partly financed with $60 million of general obligation bonds if approved by voters in an upcoming referendum that has yet to be set by city commissioners.
The city also plans to use $16.5 million in reserves and $1 million grant to pay for additional projects.
Public meetings on the plan were scheduled between May 14 and May 22.
The city had $54.03 million of utility system revenue bonds outstanding as of Sept. 30, 2013. The bonds were privately placed in 2008 to advance refund debt sold in 2004.
Moody's Investors Service assigned an A2 rating to the 2008 bonds, which was later withdrawn.
