They include street construction and reconstruction, storm sewers, water mains, sanitary sewers, and the purchases of large pieces of equipment such as dump trucks and motor graders. The CIP, which is updated annually and adopted by the City Council each March, schedules these expenditures for the next five years.
Bonds are a city's primary means of borrowing money.
The term of the bonds varies with the City's needs and the interest rate varies with market conditions at the time the bond is issued.