· Precursor
Council votes 5-0 to call a $275 million Civic Center bond election
The council voted 5-0 to call a May 2, 2020 election on $275 million in general obligation bonds toward the $319 million project, with $21 million in certificates of obligation (not requiring voter approval) and a projected 15-cent property tax rate increase.[1][2]
What the sources say
- ✓ Verified
The council voted 5-0 on a resolution calling a May 2, 2020 bond election on $275 million in general obligation bonds for the $319 million Civic Center project.[1][2]
- Vote for
- 5
- Vote against
- 0
- Go bonds
- $275,000,000
- Project
- $319,000,000
- ✓ Verified
The 2020 financing plan paired the $275 million in voter-approved bonds with $21 million in certificates of obligation (which do not require voter approval), $8 million from utilities and $15 million from value engineering; the tax impact was put at 15 cents on the rate, or $150.85 a year on a $100,000 home.[1]
- Project
- $319,000,000
- Go bonds
- $275,000,000
- Certificates of obligation
- $21,000,000
- Utilities
- $8,000,000
- Value engineering
- $15,000,000
- Tax rate increase cents
- 15
- ✓ Verified
Michelle Bonner, Deputy City Manager and CFO: Deputy City Manager and CFO Michelle Bonner said, "The general obligation bonds will go to the voters and there will be one proposition."[1]