Margate, Florida, residents voted to approve a $120 million bond for water and wastewater on the November 5, 2024, ballot.
According to the Broward Election website, 76.6% of residents voted in favor of the bonds, with 23.4% voting in opposition of the bonds.
According to a news article, city officials identified critical capital needs totaling roughly $224.3 million over the next ten years to address upgrades to its aging water and wastewater utility system.
According to the city, Margate will borrow $120 million through revenue bonds and take the remaining money from annual budgets.
The city of Margate will divide the bond into three issuances.
The first will be in 2025 with the government issuing a $60 million bond for water and wastewater treatment plant upgrades and line replacements.
The second issuance will be in 2027 with the government issuing a $30 million bond for projects needed to address new U.S. Environmental Protection Agency (EPA) regulations related to drinking water and biosolids management in wastewater.
The third issuance will be in 2031 with the government issuing a $30 million bond to fund anticipated regulatory requirements from the Florida Department of Environmental Protection, the South Florida Water Management District and the Florida legislature and the completion of previous projects.
Margate provides water service to over 17,000 homes and 1,970 businesses, with a current demand of 6.5 MGD.
