Cape's park bonds to cost less to pay off

In these times of gloomy economic news on a daily basis, bits of brighter information are welcome. That was the case this week when the Cape Girardeau City Council approved the bonding plan to pay for more than $20 million of park improvements. The bonds will be repaid with revenue from a sales tax approved by voters last April. Thanks to the decline in interest rates since then, city officials estimated a savings of 20 percent to retire the bonds.

The biggest parks improvements include the construction of an aquatic center and Shawnee Community Center and expansion of the Osage Community Centre.

The city has a strong A-plus bond rating, an indication both of the city's sound financial status and its creditworthiness.

Thanks to last year's tax vote, Cape Girardeau is embarking on these major projects that will help the city catch up from the years other city priorities were targeted for spending. With other improvements in recent years -- schools, public library, streets, federal courthouse, Southeast Missouri State University River Campus and other construction -- Cape Girardeau's infrastructure has taken a leap forward.

With this latest round of improvements, the city facilities will match or exceed the finest offered anywhere in the area.