Retirement of Existing General Obligation Bond debt for the City of St. Marys for Water and Sewer Capital Projects.
Improvements, construction, rehabilitation, renovation, mitigation, and/or expansion of roads, streets, bridges, sidewalks, multi-use trails, water and sewer projects, storm water drainage facilities, flood mitigation projects, port and harbor facilities, recreational projects and Marsh Walk.
Equipment/Vehicles and capital outlay projects to be owned and/or operated by St. Marys, including without limitation, acquisition of fire trucks, police cars, maintenance vehicles, technology upgrades and other major equipment; improvements, construction, repair, and rehabilitation of City facilities, structures, and property such as Orange Hall, Waterfront Park, demolition of Weed Street Wastewater Treatment Plant, Docks, Meeting Street Dock Restrooms, Cemetery and signage.
After deducting the Level Two (county-wide) project funding ($10,250,000.00), City of St. Marys shall receive 30.96% of the net proceeds up to the first $47,000,000.00; estimated amount of $11,376,229.00. Once the initial $47,000,000.00 has been reached, Camden County shall receive $2,100,000.00 for the construction of the Public Safety Complex – E911 / EMA, before any other distributions are made to any municipalities. Thereafter, City of St. Marys shall receive 33.89% of the next $5,900,000.00; estimated amount of $1,999,510.00.