The Infrastructure Bond Passed by One Vote, Now What?

On August 18, voters approved the City’s $23 million general obligation bond by a single vote. The result was confirmed by both machine and manual recounts and certified by the County Supervisor of Elections. Consistent with City Resolution 26-21, when a majority of votes cast is “yes,” the bonds are authorized.

The approved funding will support essential transportation projects: replacement of

the Caxambas Bridge and the Goldenrod Bridge; rehabilitation of the Blackmore, Sandhill, and South Seas bridges; and a ten-year roadway paving plan to improve and maintain the City’s busiest corridors. Additional information about each project, the ballot question, and estimated homeowner impact is available at: https://www.cityofmarcoisland.com/o/comi/page/2026-general-obligation-bond.

To implement the financing, the City has engaged bond counsel and prepared an Authorizing Resolution for City Council consideration. Upon Council adoption, bond counsel will initiate a bond validation proceeding to confirm the City’s authority to issue the bonds and to affirm compliance with all applicable local and state laws. A final judgment is anticipated in December 2026. In early 2027, City staff will present the infrastructure program and associated funding request and ask City Council to issue the bonds. At that time, a supplemental bond resolution will be brought forward for approval, with closing anticipated in spring 2027.

The Authorizing Resolution requires strong financial controls. The City will establish a “City of Marco Island General Obligation Bonds Project Fund,” restricted to approved project costs. Each year while the bonds are outstanding, City Council will levy an ad valorem property tax equal to the debt service requirement for the ensuing bond year. Residents will first see this line item on the 2027 tax bill. Collected taxes will be deposited into the Debt Service Fund and held in trust for payment of principal and interest.

While some residents have expressed concerns about spending, the process from validation through project delivery is legal, transparent, and accountable. With aging infrastructure and rising costs, the infrastructure bond enables a ten-year capital improvement plan, aligning costs over time so current and future residents share the responsibility for funding these critical improvements.