Jonesboro, AR — (JonesboroRightNow.com) — May 21, 2025 — A public hearing before the Jonesboro city council meeting on Tuesday outlined plans for a $17.5 million revenue bond to fund capital improvements.
The bonds will fund “shovel-ready” projects, including a new E-911 Center, an expansion of Caraway Road and new bike and pedestrian walking trails in various parts of the city. The projects are estimated to cost $16 million. An additional $1.5 million is allotted to allow for additional or unexpected costs.
These bonds are not new taxes. Instead, they are leveraged through financing from municipal revenue bonds. Repayment of the bonds is backed by franchise fee revenue. The bonds must be spent within three years and do not authorize the purchase of property.
“These bonds do not represent a tax increase or a cost increase to the public,” Mayor Harold Copenhaver said. “We are simply leveraging future revenues from existing franchise fees to get a lump sum of cash to build and begin project construction now.”
Included in the plan is the construction of a new E-911 Center, estimated to cost $5.5 million, which would house E-911 services and other police department operations. A location would be determined this summer, with construction slated for spring 2026. The center would open in winter 2027, according to plans presented at the meeting.
Copenhaver said a task force would be formed to determine the center’s final location. Since the center involves the finance, public safety, public services, and public works committees, he asked that each chairman of those committees be represented on the task force.
Even though buying property is not included in the bond plan, Copenhaver has said in previous meetings he wants to purchase property for the center after the bonds are in place.
“I’ve asked Councilmember [Brian] Emison to head up the committee and work quickly on a recommendation. I would ask that we involve the opinions of economic development experts, engineers, and public safety professionals, and provide an expedited timeline for completion,” Copenhaver said during the Public Works Committee meeting held before the city council meeting.
Emison responded that he was working on setting a meeting time for that task force, and one would be scheduled within the next two weeks to meet “the expedited requests.”
Also included in the revenue bond plan is an expansion of Caraway Road. Caraway Road will be expanded into five lanes from I-555 to Latourette Drive, then phased down to three lanes to Glenn Place. This project also includes building a new side path to replace the dirt-worn one. This is projected to cost $5.5 million.
The project would be put out to bid in fall 2025. Road construction would begin in spring 2026 and side path construction would start in winter 2026. The project is estimated to be completed in winter 2027.
The plan also includes funding for new pedestrian and bike-friendly trails. This is estimated to cost $5 million.
Three new trails would be constructed as part of the plan. A path on Jefferson Avenue would begin construction in summer 2025 and has an estimated completion of fall 2026. A path on Johnson Avenue would start construction in summer 2026 and is estimated to be finished in summer 2027. A path on Prospect Road/Elizabeth Lane would start construction in winter 2026 and end in spring 2028.
No members of the public gave comments on the plan. The full city council will vote on an ordinance to implement the bonds in its June 17 meeting.
During the month leading up to the meeting, documentation, interest rates and more will be worked on and secured. Paul Phillips, financial adviser for Crews and Associates, said plans for the bonds initially presented to the city council will be blank, with information regarding bond terms to be added later.
“Because of clearly, the volatility of the market, we can’t sell bonds and then wait multiple weeks to finalize the terms. We’ve got to finalize the terms that day,” Phillips said. “The only way to do that is to ask this body to do all three readings, plus an emergency clause, on the evening of the 17th.”
Phillips said this was customary and used to lock in interest rates on the bonds. He added that the final numbers will be added to documentation after the city council takes action on the ordinance, and that the transaction would close July 22.
“At that particular point in time, you’ve got a construction fund with the monies in it and you’re ready to move forward with each of these projects,” Phillips said.
Watch the full public hearing here.