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Show Naples to bond road improvement A recent survey conducted by Naples City showed street repair and maintenance is the most important concern of residents in the city. In order to do something about the poor condition of roads, the city council coun-cil approached the State Energy Impact Im-pact Board to loan Naples $1 million, at low interest, providing Naples passes a bond to secure the repayment of the loan. The Naples City Council, at their regularly scheduled city council meeting on Aug. 24, passed a resolution resolu-tion allowing for the holding of a special bond election on Sept. 27, 1983. The purpose of the election is to place the issue before the voters. Naples City will also put up $250,000. The entire amount will be used to resurface 12 to 14 miles of roads in Naples, plus build a city building and make park improvements. The matching mat-ching funds include the cost of the building the new road through Naples Park. The $1 million will come in two ways: $400,000 will be loaned at no interest, in-terest, the other $600,000 will be loaned loan-ed at 5 percent interest. During the first two years of repayment, no principal prin-cipal will be necessary. Payments will be $63,000 for each of the first two years and will increase to approximately approx-imately $110,000 per year from 1986 through 1995. Total repayment of the bond will be $1,226,000. Naples City currently has a road budget of approximately $160,000 and a building budget of approximately $60,000. Naples City Mayor Lawrence Kay said there is no way they would be able to make major repairs to the roads without the loan. He said the savings to the road budget would be substantial because the newly paved roads will not need repairs. Because of this, the loan will be able to be repaid through the regular budget and will require no tax levy. Mayor Kay said no roads in Naples will be completely reconstructed, but nearly all bad sections of road in the city will be resurfaced. There are approximately ap-proximately 21 miles of roads in the city ci-ty boundaries, not all of which are in ill repair. By resurfacing roads only, a total of 12 to 14 miles can be resurfaced. resur-faced. The city has arranged for a test section to be repaved so residents can examine and see what their money will be used for. The test section will be completed at 1000 South on 500 East, running east about 400 feet. It will be done this week. All residents of legal age in Naples may vote in the election. No special registration will be necessary, although voters must be registered, as in all elections. Information concerning concern-ing voting or the bond election can be received at the Naples City Building, WnA South 1500 East or :;ill 7S MWI. |