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ITEM 15 |
City Council Memorandum Management Services Memo No. 21-061
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Date: |
May 27, 2021 |
To: |
Mayor and Council |
Thru: |
Joshua H. Wright, Acting City Manager |
From: |
Dawn Lang, Deputy City Manager - Chief Financial Officer |
Subject: |
Resolution No. 5488 Ordering and Calling a Special Bond Election to be held in and for the City of Chandler, Arizona, on November 2, 2021, to Submit to the Qualified Electors thereof the Questions of Authorizing the Issuance and Sale of General Obligation Bonds of the City |
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Proposed Motion: |
Move to pass and adopt Resolution No. 5488 ordering and calling a special bond election to be held in and for the City of Chandler, Arizona, on November 2, 2021, and to submit to the qualified electors thereof the questions of authorizing the issuance and sale of general obligation bonds of the City. |
Background: |
A Citizen Bond Exploratory Committee, including six Subcommittees, made up of 49 citizens was formed August 13, 2020. Between September 2020 and February 2021, the Citizen Bond Exploratory Committee and Subcommittees met several times to discuss the need for bond authorization in the areas of Public Works, Public Safety, Facilities, Airport, Information Technology, and Parks. A final recommendation was made to City Council on February 25, 2021, for a total of $272,685,000 of new bond authorization needed for Parks ($72,985,000), Public Safety Fire ($25,160,000), Public Safety Police ($55,190,000), Streets ($85,780,000), and Municipal Facilities ($33,570,000). |
Discussion: |
The City Council held a Bond Election Work Session on May 10, 2021, to hear from the City’s Bond Counsel regarding election laws, proposed ballot questions, and education to the public of the need for bond authorization versus advocacy. Resolution No. 5488 is now moving forward to order and call a special bond election to be held in Chandler on November 2, 2021, and submit to the qualified electors the questions of authorizing the issuance and sale of general obligation bonds for the City of Chandler. |
Financial Implications: |
Should City Council approve Resolution No. 5488, and the voters approve all five questions on the special bond election to be held November 2, 2021, primary and secondary property tax rates would not increase based on current projections. |
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