One vote made all the difference. A $23 million general obligation bond referendum has been passed by Marco Island voters after an extremely narrow vote that called for a recount.
After both a machine and a manual recount, Collier County Supervisor of Elections Melissa Blazier announced the results are as follows: 2,259 votes for bonds and 2,258 votes against bonds.
“I just want to remind folks that this passed by one vote,” Blazier said in a recount conclusion video posted on YouTube on Aug. 21. “So truly, when we say that every vote counts, we mean every vote really counts, and it was very clear in this race.”
What will Marco Island use the bond money for?
After eight years of property tax rollbacks by previous councils, Marco Island is in need of parks and recreation improvements, pedestrian and bicycle paths and safety measures, street repairs and paving, bridges, and measures to reduce water pollution.
The $23 million is expected to support the following projects over 10 years:
How do general obligation bonds work?
General obligation bonds are a common way for local governments to pay for major long-term projects like roads, bridges, parks, and public safety facilities.
Unlike other forms of public debt, general obligation bonds are backed by the issuing government’s “full faith and credit,” meaning repayment is guaranteed through property taxes if needed. On Marco Island, that means property owners would help repay the debt through voter-approved ad valorem taxes.
In Florida, voters must approve general obligation bonds through a referendum before they can be issued. Since they are backed by a government’s taxing authority, these bonds are generally considered low-risk investments and often carry lower interest rates.
What happens next?
The final results for the Marco Island bond referendum will be certified at the next canvassing board meeting on Aug. 26 at 9 a.m. After the results are certified, Marco Island would be authorized to issue up to $23 million in general obligation bonds and begin moving forward with the bridge and roadway projects included in the city’s 10-year infrastructure plan.
The razor-thin margin means a single ballot determined whether Marco Island moves forward with a $23 million infrastructure plan. It’s a striking example of the impact voters can have on local decisions. Let this be a reminder than every vote counts, Blazier said.
This article originally appeared on Naples Daily News: Recount results: Marco Island residents narrowly approve $23M funding
Reporting by Kendall Little and J. Kyle Foster, Fort Myers News-Press & Naples Daily News / Naples Daily News
USA TODAY Network via Reuters Connect
By Kendall Little and J. Kyle Foster, Fort Myers News-Press & Naples Daily News | USA TODAY Network
