Oxnard—The City of Oxnard’s budget story continues with the proposed budget in the Capital Improvement Plan (CIP).
“We’re not going to be issuing any new debt to fund any CIP projects,” Chief Financial Officer Javier Chagoyen-Lázaro said. “We’ll be using cash funding to pay for projects.
Public Works Director Michael Wolf said that three years ago, the City identified projects.
“Most of those were in paving projects that actually issued bonds and did street and alley paving projects,” he said; “We had to put them on hold for a couple of months, because of the bond litigation. Then we had to come back to the City Council and look at addressing those projects in a different fashion.”
He mentioned that there are additional options for bond funding, which in previous years have been recognized as bonding sources.
“Those funding sources could be from the Senior Center and the Fire Stations,” he said. These projects could be prime projects for bonding, like the Aquatic Center. Those are prospects for the current CIP. Those may be at a design level that is ripe for the future.”
He said that with this level of cash, over multiple years, if you had the funds…
