Jobs
Contact
A-Z
News
Explore
Residents
Business
Government
Open Menu
Close Menu
Explore
Residents
Business
Government
Print
Reading Mode
Back to Calendar
Return
ITEM 29
City Council Memorandum Mayor and Council Memo No. N/A
Date:
September 12, 2024
To:
Vice Mayor and Council
From:
Mayor Kevin Hartke
Subject:
Ordinance No. 5109, Forming a Resident Bond Exploratory Committee
Proposed Motion:
Move Council pass and adopt Ordinance No. 5109, forming a Resident Bond Exploratory Committee, including a Steering Committee and Subcommittees, to review and identify programs requiring financing and to make recommendations to the Council regarding the use of bond financing.
Background/Discussion
The city uses bonds to fund almost 70% of its 10-year Capital Improvement Plan. Arizona Revised Statute requires cities to obtain voter authorization prior to selling General Obligation (GO) bonds and using secondary property taxes to fund the interest and principal.
The Mayor and Council desire to promote and develop community outreach for the use of bonds for financing city programs in a manner that is inclusive and representative of the needs and desires of Chandler's residents. This Ordinance creates a Resident Bond Exploratory Committee, which will include a Steering Committee and four (4) Subcommittees, for this purpose.
This ordinance was introduced and tentatively adopted on September 9, 2024.
Attachments
Ordinance No. 5109
AgendaQuick ©2005 - 2024 Destiny Software Inc.
All Rights Reserved.