Broadband Internet Infrastructure Improvements

Technology is impacting every part of our lives in our rapidly changing world. From where and how we conduct work, to whether or not we thrive economically, and interact with each other socially. Technology and broadband can improve and enhance the way we work and live. In education, it provides students a stronger link to their own teachers, school resources, and the ability to video-link to anywhere in the world.

The proposed Broadband Improvement Bond will allow the city to own our own fiber optic network solution. This allows the City to partner with a local provider to develop faster internet speeds, offer lower prices, and deliver better customer service for the residents of Cabot. Having a publicly owned infrastructure provides a positive outcome in economic development as it attracts more locally owned businesses who can rely on high speed Internet connections to help their businesses.

With the advancement of technologies, having access to affordable and abundant broadband is quickly becoming the most critical infrastructure of our time.

This will NOT be a new tax. This will be an extension of the current 1% sales and use tax that was originally presented and approved in 2005, and extended in 2013 by voters.

BALLOT QUESTION

BROADBAND IMPROVEMENT BONDS

Bonds of the City of Cabot in the maximum aggregate principal amount of $23,830,000 for the purpose of financing all or a portion of the costs of the acquisition, construction and equipping of facilities and apparatus for broadband, voice, data, video or wireless telecommunication services, or any combination thereof, and any necessary land and easement acquisition, road and utility adjustments therefor, professional fees related to any of the foregoing, the establishment of reserves, and bond issuance and any credit enhancement costs, and, in order to pay the bonds, the levy and pledge of a new 1% local sales and use tax within the City that will expire after the bonds have been paid or provision is made therefor in accordance with Arkansas statutes.


□ FOR the issuance of Broadband Improvement Bonds

□ AGAINST the issuance of Broadband Improvement Bonds