|What is voter approved debt, or bonds?
Florida law allows a city to levy separate property tax rates to pay for long term bonds. Bonds using property taxes to guarantee the payment of cost of principal and interest are known as “general obligation” (G.O.) bonds. The City issues the bonds only after the voters have approved the bonds.
Details on the City’s outstanding debt can be found in the Comprehensive Annual Financial Report.
Cape Coral has two general obligation bond issues being financed through property taxes.