The Arab City Council is strongly considering borrowing $19.76 million in the form of a bond issue.
Bob Young of the Frazer-Lanier Company spoke to the council Monday night, saying that he talked to Mayor Bob Joslin and Council Finance Committee Chairman Mike Allen several weeks ago about the bond market.
The bond issue would consolidate $4,890,008.13 in existing debt, and provide $14,860,790 for new projects.
Some of that money is expected to go toward road improvements on North Main Street and 12th Avenue NE, estimated to cost $1.5 million, as well as the new access road off 12th Avenue on the Putnam property to Arab Primary School.
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