Bonds For Parking Projects Up For Vote

The Hyattsville City Council will consider a $2.5 million general obligation bond issuance to pay for a range of infrastructure projects at its next meeting on Monday evening. 

At its last meeting, the City Council approved a declaration of official intent resolution which legally clears the way for the city to reimburse its coffers for expenses to be covered by a future bond issuance of about $2.5 million. 

"It's a way to declare that you are taking out bonds in the future to pay for projects that you are working on now," said City Treasurer and Acting City Administrator Elaine Stookey. 

The first reading of the bond issue will be held at the next Hyattsville city council meeting on July 23. Bond issue measures require two rounds of approval before going forward.

Hyattsville will be entering the bond market with a pool of other Maryland localities through the Department of Housing and Community Development's Community Development Administration. 

The $2.5 million bond issuance is designed to pay for upgrades to a range of Hyattsville's infrastructure, including the purchase of and , both of which are already underway. 

The funds are also earmarked for renovations and improvements to city parks and playgrounds, repaving and streetscape projects. 

If approved, the Community Development Administration would issue the bond around this October or November.