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Bond funding city-wide street repair approved

Posted at 10:22 PM, May 12, 2020

OMAHA, Neb. (KMTV) — A bond funding street repair across Omaha was approved on Tuesday's primary night.

The approval authorizes the city to issue $200 million in bonds to fund street maintenance.

To pay for the bonds, the property tax levy rate will increase by $0.035 per $100 of assessed value.

For example, on a $100,000 dollar home, property taxes would raise by about $26 per year.

As of 9:45 p.m., a total of 61,774 voted yes on question 1 which authorizes the city to issue and sell the bonds to repair streets.

A total of 54,806 Omahans voted yes on question 2 which authorizes the raise in property tax.

Both questions had to be answered "yes" by a majority of voters in order for street improvements to happen.

Omaha Major Jean Stothert issued the following statement Tuesday night on the approval:

"Thank you to the voters for recognizing the importance of our road infrastructure and approving the bond issue.

With voter support, we will immediately begin an aggressive, new, pavement maintenance program to repair and rehabilitate streets throughout the city.

The long-term bond funding will greatly reduce our annual road repair costs and allow us to spend your tax dollars wisely.

Road work funded by this bond issue will begin this summer."