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In government, various types of bonds may be issued. Certificates of obligation and general obligations are used by the city to fund capital projects. 

Certificate of Obligation Bonds - Bonds approved by the City Council for capital projects. The city uses this type of bond to fund roadway, development, facility, infrastructure and utility projects. Certificates of obligation bonds can be repaird through a variety of sources including property tax,utility and development fee revenue.

General Obligation Bonds - Bonds approved by voters through a general city election for capital projects. General obligation bonds are repaid through property tax revenue.

City Council has until August 24, 2015 to call an election for November 2015.