Soldotna residents can place their vote Tuesday on whether or not the city should borrow $10 million in bonds for a new field house.
Polls open at 7 a.m. and will close at 8 p.m. March 5, at Soldotna City Hall.
Soldotna residents will vote either “Yes” or “No” on a single proposition that asks if the city should borrow $10 million in bonds to construct a field house at the Soldotna Regional Sports Complex.
The total cost of the project is estimated at $11.8 million dollars. If the bond is approved, $10 million will be financed through debt of a general obligation bond, with the remaining covered by private funders, donations, grants or, if needed, funds previously authorized by the city council.
The city would take on a 10-year bond with an interest rate between 3 and 3.5 percent. It would be paid off in 10 years with 10 annual payments.
The half-percent year-round sales tax increase would cover that debt, increasing the tax from 3 percent to 3.5 percent.
The field house would be 42,000 square feet and include a removable turf field, three-lane elevated walking track and an event room. The field house would sit adjacent to the Soldotna Regional Sports Complex.