Soldotna residents can start voting on whether or not Soldotna should borrow $10 million in a bond for a field house.
Absentee ballots for the special election are now available at Soldotna City Hall and can be cast in person until the special election. The question will officially be put in front of voters on March 5. Voters may submit their ballot by electronic transmission until March 4.
The total cost of the project is estimated at $11.8 million dollars. If the bond is approved, $10 million will be financed through debt of a general obligation bond, with the remaining covered by private funders, donations, grants or, if needed, funds previously authorized by the city council.
The city would take on a 10-year bond with an interest rate between 3 and 3.5 percent. It would be paid off in 10 years with 10 annual payments.
The half-percent year-round sales tax increase would cover that debt, increasing the tax from 3 percent to 3.5 percent.
Reach Kat Sorensen at ksorensen@peninsulaclarion.com.
