| ITEM #: 4. DATE: 05/22/2023 AI #:1499 |
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CITY COUNCIL ACTION REPORT
| SUBJECT: | ADOPT A RESOLUTION TO CALL THE SPECIAL BOND ELECTION, PROVIDE NOTICE OF THE ELECTION AND REQUEST ARGUMENTS FOR AND AGAINST THE MEASURES |
| STAFF PRESENTER(S): | Darcie McCracken, City Clerk |
OTHER PRESENTER(S):
Jared Askelson, Deputy Finance Director
SUMMARY
Adopt a resolution to call the Special Bond Election and provide notice of the Special Election to be held November 7, 2023.
STRATEGIC PLAN ALIGNMENT
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RECOMMENDATION
ADOPT RESOLUTION NO. 2023-2306 ORDERING, CALLING AND PROVIDING NOTICE OF A SPECIAL ELECTION FOR NOVEMBER 7, 2023; REFERRING TO THE VOTERS OF THE CITY OF GOODYEAR QUESTIONS OF SELLING AND ISSUING BONDS PAYABLE FROM SECONDARY (AD VALOREM) PROPERTY TAXES; DESIGNATING THE MANNER OF ELECTION; DESIGNATING THE DATES THAT VOTER REGISTRATION CLOSES; DESIGNATING PROVISIONS FOR THE FILING OF ARGUMENTS FOR AND AGAINST THE BONDS; AUTHORIZING THE CITY MANAGER, OR DESIGNEE, TO ENTER INTO ALL AGREEMENTS TO EFFECTUATE ELECTION SERVICES; AND ORDERING THE CITY CLERK TO PUBLISH NOTICE OF THIS CALL OF ELECTION. (Darcie McCracken, City Clerk)
FISCAL IMPACT
Costs for the November 7, 2023 Special Bond Election are included in the FY2024 budget to be adopted by Council. The city contracts with Maricopa County Elections to provide election services at a rate of $2.12 per voter. As of April 26,2023, Goodyear has 59,550 active voters, bringing our estimate of costs to Maricopa County Election to $126,246. The city has also contracted with Runbeck Election Services to provide the informational pamphlet for this election with an estimated cost of $32,000. Additional publications and information will be shared with the public to inform them of the election and important dates.
BACKGROUND AND PREVIOUS ACTIONS
Arizona Revised Statutes §35-455 speaks about the sale of bonds and the requirement that a majority of the qualified electors voting at the election must agree. The statute is detailed in the requirements of the informational pamphlet, call of election, interest rate, the minimum and maximum number of years the bonds may run, the purposes for which the money will be expended, the current outstanding general obligation debt and the constitutional debt limit of the political subdivision.
Council received the Citizen Bond Committee recommendations at the May 8, 2023 Regular Meeting and discussed the recommendation at the May 15, 2023 Work Session.
Council received the Citizen Bond Committee recommendations at the May 8, 2023 Regular Meeting and discussed the recommendation at the May 15, 2023 Work Session.