PowerPoint Presentation (Updated on 11/18/22)

Potential G. O. Bond Special Election 2023
November 22, 2022

2
Agenda
• Overview of G. O. Bonds
• Remaining Bond Authority
• Repurposing bond authority
• Potential 2023 Election
– Pros and Cons
– Timeline
• Other Considerations
• Council Discussion and Consensus

3
General Obligation (G.O.) Bonds
• Paid for using secondary property tax
– Council resolution on a flat levy
• Must be authorized by voters
• Constitutional limits
– Based on Net Assessed Full Cash Value
– Outstanding G.O. debt may not exceed:
• 20% for combined water, sewer, public safety, streets, transportation, 
open space, and parks
• 6% for general municipal purposes

Property Tax
4
• Primary Levy Limit
– Any general fund expense
– Allowable 2% increase per year
• Secondary Levy Limit
– Debt service on General Obligation (G.O.) bonds only
– Currently flat levy 
• Assumes slight growth from new construction

Debt Management Policy
5
• Adopted by City Council in October 2020
• The City Council will not authorize the issuance of new 
G.O. bonds if the levy amount required to pay the debt 
service on the existing G.O. bonds plus the new G.O. 
bonds exceeds the amount of the current year’s tax levy 
plus an amount of up to 2% per year for new growth 
(i.e. new property added to the tax rolls)
• Existing G.O. Debt Service + New G.O. Debt Service ≤ 
Current Levy + 2% for Growth

Secondary Property Tax History
6
$19,065 
$19,269 
$19,588 
$19,807 $20,071 
$20,409 
$20,689 
$21,217 
$21,837 
$0
$5,000
$10,000
$15,000
$20,000
$25,000
FY15
FY16
FY17
FY18
FY19
FY20
 FY21
 FY22
FY23
Secondary Property Tax History (In Thousands)
Secondary Property Tax

Comparison of Growth vs Inflation
7
$285 
$154 
$136 
$415 
$420 
$386 
$469 
$290 
$1,485 
$62 
$57 
$91 
$63 
$76 
$97 
$281 
$527 
$621 
$0
$500
$1,000
$1,500
FY15
FY16
FY17
FY18
FY19
FY20
 FY21
 FY22
FY23
Secondary Property Tax (In Thousands)
Amount if Increased by Inflation
Amount Attributable to Growth

8
G.O. Bond Debt Service Capacity

9
Full G.O. Bond Program
 $-
 $5,000,000
 $10,000,000
 $15,000,000
 $20,000,000
 $25,000,000
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
G.O Bonds Annual Debt Service
Existing G.O. Debt
New Debt - Current Authorization
New Debt - New Authority

10
Public Safety – Completed Projects
• Remodel Fire Station 152
$1,352,622

11
Public Safety – In progress
• Remodel Sine Building
$1,625,205

12
Streets and Parking – Completed Projects
• 95th Avenue
$3,518,021

13
Streets and Parking – Completed Projects
• Glendale Ave Reconstruction
$3,518,021

14
Streets and Parking – Completed Projects
• Camelback Rd. Loop 101 - 91 Reconstruction
$3,010,536

15
Project 
Amount Spent Project
Amount Spent
Camelback 101-91st
2,741,150 CACTUS - 59TH TO 67TH
69,426 
GLENDALE -101 TO EL 
MIRAGE
14,570,119 
51ST AVE-PEORIA TO 
CACTUS
60,312 
CAMELBACK - 83RD TO 
91ST
2,318,932 
51ST AVE - OLIVE TO 
PEORIA
60,186 
BELL RD - 51ST TO 59TH
3,478,910 
75TH-GLENDALE TO 
NORTHERN
178,830 
GLENDALE - 101 TO 91ST
2,841,035 
83RD-GLENDALE TO 
NORTHERN
241,960 
CACTUS - 51ST TO 59TH
1,652,163 
67TH - GREENWAY TO 
BELL
71,902 
STREET RECONSTRUCTION 
PROGRAM
2,384,330
WESTGATE AREA 
SIGNAGE
637,872

16
Flood Control – Completed Project
• Bethany Home Outfall Channel
$15,311,000

17
Flood Control – Completed Projects
• 83rd & Georgia Drainage
$747,452

18
Parks and Recreation – Completed Project
• O'Neil Park Splash Pad
$1,135,745

19
Parks and Recreation – Completed Project
•
Heroes Regional Park Lake
Total Budget of $5,409,811
– $4,203,361 (G.O.)
– $1,206,450 (General fund)

20
Remaining Bond Authority
Category
Amount 
Requested in 
2020 Election*
Amount now 
remaining
5-year CIP
10-year CIP
Notes
Landfill
$9,900,000
$4,625,000
$14,437,000
$19,096,400
Paid for by landfill revenue
Parks and Rec
$87,200,000
$6,040,000
$35,284,473
$84,684,473
Streets and Parking
$81,500,000
$324,000
$46,838,032
$81,847,780
Flood Control
$9,300,000
$7,676,000
$12,501,500
$18,123,500
Open Space and 
Trails
NA
$49,280,000
$15,125,000
$21,754,200
Possible to repurpose
Public Safety
NA
$86,591,150
$64,150,325
$88,505,201
Runs out in FY27-28
Library
NA
$16,871,000
$24,176,966
$29,576,966
Runs out in FY25-26
*2020 Bonds did not pass

21
Summary of H.B. 2821
Repurposing Bond Elections
1. Allows the Council to call an election to change the purposes for 
which the monies derived from the sale of bonds authorized at a 
prior election may be spent
2. Election to be held on the first Tuesday following the first Monday 
in November, the same day as typical bond elections.
3. Requires the election notice and procedures to be conducted in 
the same manner as typical bond elections.

22
Summary of H.B. 2821
Repurposing Bond Elections -Continued
4. Informational pamphlet like regular bond election pamphlet also 
contains
– Original purposes and projects
– Proposed new purposes and projects
5. Requires the ballot to contain the words “change capital 
improvements, yes” and “change capital improvements, no” and 
requires the voter signify their desired choice.
6. Last permitted election date is November 5, 2024.

Timeline for 2023 Special Election
23
Timeline
• March 3
Notify Maricopa County of Participation
• June 13
Adopt Resolution referring the questions to the ballot
• July 14
Materials due for Voter Information Pamphlet
• August 19
Last day to submit “for” or “against” statements to City Clerk
• October 3
Publicity pamphlets mailed
• October 11
Early voting ballots mailed
• November 7
Election Day

Potential November 2023 Special Election
24
• Pros*
– Voters tend to be more informed on the issue
– Other cities have seen success
– No voter “fatigue”
• Cons*
– Cost up to $250k
– Lower turnout
*Not intended to be an all-encompassing list

Other Considerations
25
• Election strategy consultant
– Gauge public sentiment
• Purpose and role of the Bond Committee

Discussion and Consensus
26
• Continue on path to a 2023 Special Election?
– Recommended by Bond Committee
• Engage election strategist