OTTAWA – Construction of the new Riordan Pool will start soon, with the hope that it would be completed by mid-may next year. Ottawa officials passed an ordinance, approving $5.1 million dollars in general obligation bonds, providing the pledge of certain revenues to pay the bond and potential the levy of taxes to pay such principal and interest if the pledged revenues are insufficient. The city has about 20 years to pay the bond back. Demolition and reconstruction of the pool is now out to bid, and work is expected to begin soon. The city plans to use marijuana and video gaming tax to pay the bond back. In total, Ottawa makes around $500,000 a year on both.
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