2024-general-obligation-bond

Background of the General Obligation (GO) Bond

The City of Toledo is seeking voter approval at the 2024 Primary Election to issue general obligation bonds to finance capital costs of the City replacing the Ammon Road Tank water reservoir and related improvements and equipment. If approved, the average annual bond tax rate is estimated to be $0.35 per $1,000.00 of assessed value. Bonds will not increase taxes, but will actually be a cheaper rate, replacing the current 2005 bond expiring this year. Below are excerpts from a 2011 tank inspection report. Please visit the City website for more detailed information and frequently asked questions.

Interior Roof & Shell

Overall, the shell appeared in good condition and the roof exhibits good coating, however outer edges of the roof show deterioration, corrosion and the outer edges of the coating have sunken in.

Interior Structures

Some corrosion is present on the overflow pipe, the interior column stem as well as the ladder rungs. The level indicator had one guide wire that corroded away and was no longer attached.

2011 Inspection Summary Conclusion

Based on the results of the inspection and cleaning, this tank needs to be taken out of service. The interior roof needs to be evaluated by a structural engineer and the interior coating replaced in the near future.

What Your Vote Can Mean

Replacing Ammon Tank will have an important impact on City services as a whole because it not only services the South side of Toledo, but it also provides significant water pressure to lines throughout the City affecting residential and business customers. More information and pictures about the GO Bond are available on the ‘News’ page of the City website. Or scan the QR code above.