City of Pasco Considering Issuing Bonds to Help Fund New Police - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

City of Pasco Considering Issuing Bonds to Help Fund New Police Station

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The City of Pasco is busting at the seams and as the Pasco Police Department tries to keep up with the population, it's starting to outgrow its space. The City of Pasco is busting at the seams and as the Pasco Police Department tries to keep up with the population, it's starting to outgrow its space.
PASCO, WA - The City of Pasco is busting at the seams and as the Pasco Police Department tries to keep up with the population, it's starting to outgrow its space. 

Currently, the department is part of the civic center, but it's at capacity for virtually all departments.  So naturally, the next step is to  build a new police department.

On Monday at the city council meeting, members considered issuing bonds to pay for the new police station.

Voters approved a sales tax in 2011 to give the city a funding source for the new station, but it would take about 12 years to save up enough. By issuing bonds, the city can get the money now and pay off the bonds with the sales tax money. 

"It's a much more cost effective way to finance the construction of the project because, like most of us when we buy a home, we don't have the cash to pay for it up front, so we sign a mortgage. It's essentially the same thing the city is doing, except we're issuing bonds instead of signing a mortgage," Pasco City Manager Gary Crutchfield explained. 

The council would sell the bonds to investment firms in the Northwest. However, before the city can sell bonds, they will need to vote on the specific bond terms. 

The council did vote on the architect for the new police station on Tuesday though. The city council voted four to one to approve Terence Thornhill to build the facility.

The projected budget was $12 million, but Terence Thornhill  says he can do it for $8 million. 
     
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