Commissioners,
Why not sell tax free bonds to be paid over 10, 15 or 20 years and match debt payments with tax revenue from future home taxes?
Lowest rates in history
Perhaps refund last years tax increase.
Not to be confused with the bonds attached to homes.
Municipal Bond Definition
What are municipal bonds and how are they used? | Tax Policy Center
State and local governments issue bonds to pay for large, expensive, and long-lived capital projects, such as roads, bridges, airports, schools, hospitals, water treatment facilities, power plants, courthouses, and other public buildings. Although states and localities can and sometimes do pay for capital investments with current revenues, borrowing allows them to spread the costs across multiple generations. Future project users bear some of the cost through higher taxes or tolls, fares, and other charges that help service the debts.
States and localities issue short-term debt or notes to help smooth uneven cash flows (e.g., when tax revenues arrive in April but expenditures occur throughout the year). They also issue debt on behalf of private entities (e.g., to build projects with public benefit or for so-called public-private partnerships).
HOW LARGE IS THE MUNI BOND MARKET?
At the end of 2019, state and local governments had $3.85 trillion in debt outstanding (figure 1). About 98 percent of this debt was long term or with a maturity of 13 months or longer, while the remaining 2 percent was short term. As in most years, roughly 40 percent of municipal debt was issued by states and 60 percent by local governments.
