Why a levy and not a bond?

Levies give us a smaller, predictable amount of money each year that better matches the city’s fleet needs. Fleet purchases are recurring.  Hundreds of vehicles support Municipal services, many of which are past their recommended lifespans. It’s most sustainable to replace a small share every year, especially since older vehicles rack up much more in maintenance and repair costs. Unlike bonds, levies don’t require debt, so taxpayers avoid interest payments. Bonds make sense for large capital assets like buildings or roads and drainage infrastructure — assets with long, long life spans that are one-time or much more irregular purchases.