2023/2024 G.O. Presentation on Bond Issuances and Projects
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G.O. Bond Funded Capital Projects June 25, 2025 2 Presentation Overview • Remaining Bond Authorization • G.O. Bond Funded Projects • 2023 Issuance (Issued Fall 2023) • 2024 Issuance (Issued Fall 2024) • 2025 Issuance (Budgeted – Will Issue Fall 2025) 3 General Obligation (G.O.) Bonds • Debt Service paid with secondary property tax – Assumes 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 • G. O. Bonds must be spent within 3 years of the date of issuance to avoid arbitrage 4 Remaining Bond Authority by Category Bond Category Year Authorized Authorization Remaining Operations Center 1981 $ 6,200,000 Library 1999 $ 6,193,165 Cultural Facility 1999 $ 2,087,625 Economic Development 1999 $ 22,047,154 Government Facilities 1999 $ 3,714,220 Landfill 1999 $ 4,626,004 Public Safety 2007 $ 48,044,139 Public Safety 2023 $ 78,000,000 Open Space/Trails 1999 $ 27,643,134 Transit 1999 $ 6,750,000 Water/Sewer 1999 $ 10,000,000 Streets and Intersections 2023 $ 76,293,969 Flood Control 2007 $ 1,875,146 TOTAL $ 293,474,556 5 Public Safety Bonds Bond Category 2023 Amount Issued 2024 Amount Issued Total Amount Issued Amount Expended to Date Amount Remaining Public Safety Bonds $ 27,161,214 $ 15,681,112 $ 42,842,326 $ 23,797,826 $ 19,044,500 Project # Project Title Expenditures to Date CIPFC21053 CITY COURT RENOVATIONS $ 598,513 CIPPS19029 FIRE STATION #153 REPLACEMENT $ 6,669,430 CIPPS19030 POLICE EVIDENCE STORAGE FACILITY $ 14,369,088 CIPPS19041 MAIN PUBLIC SAFETY BLDG RENOVATION $ 1,060,569 CIPPS19042 FOOTHILLS POLICE STATION RENOVATION $ 416,938 CIPPS19043 GATEWAY POLICE STATION RENOVATION $ 17,627 CIPPS19044 FIRE STATION #154 RELOCATION $ 992 CIPPS23030 GRPSTC PARKING LOT $ 620,018 CIPPS23031 POLICE CRIME LABORATORY $ 39,689 CIPPS24050 FIRE STATION 1510 - AIRPORT AREA $ 4,961 TOTAL $ 23,797,826 6 CIPPS19030 – Police Evidence Storage Facility 7 CIPPS19029 – Fire Station #153 8 General Government Bonds Bond Category 2023 Amount Issued 2024 Amount Issued Total Amount Issued Amount Expended to Date Amount Remaining General Government Bonds $ 13,938,683 $ 3,550,696 $ 17,489,379 $ 14,077,389 $ 3,411,990 Project # Project Title Expenditures to Date CIPFC19016 GLENDALE OPS CAMPUS-FIELD STAFF BLD $ 11,585 CIPFC19037 UNDERGROUND STORAGE TANK REPLACE $ 1,034,434 CIPFC19038 CITY HALL BUILDING REMODEL $ 11,114,354 CIPFC20023 ADULT CENTER WEST RENOVATION $ 123,308 CIPFC22086 CITY HALL PARKING GARAGE $ 804,360 CIPFC23036 CIVIC CENTER BEAD MUSEUM RENOVATION $ 312,000 CIPFC23040 SINE BLDG 2ND FLOOR WEST RENOVATION $ 677,348 TOTAL $ 14,077,389 9 CIPFC19037 – Underground Storage Tank Replacement 10 CIPFC19038 – City Hall Building Remodel 11 CIPFC19038 – City Hall Building Remodel 12 Downtown Campus Reinvestment Project Artist Rendering 13 Open Space/Trail Bonds Bond Category 2023 Amount Issued 2024 Amount Issued Total Amount Issued Amount Expended to Date Amount Remaining Open Space/Trail Bonds $ 9,000,000 $ 10,622,564 $ 19,622,564 $ 224,699 $ 19,397,866 Project # Project Title Expenditures to Date CIPPK19077 THUNDERBIRD CONSV. PARK IMPS. $ 101,216 CIPPK22032 SKUNK CREEK LINEAR TRAIL $ 9,922 CIPPK22033 GRAND CANAL LINEAR PARK IMPROVEMENT $ 79,430 CIPPK22034 THUNDERBIRD PASEO IMPROVEMENTS $ 28,649 CIPPK22036 NEW RIVER TRAIL IMPROVEMENTS $ 5,482 TOTAL $ 224,699 14 CIPPK19077 – Thunderbird Conservation Park Improvements Current Condition 60% Construction Design 15 Park Bonds Project # Project Title Total Expended to Date CIPPK21033 HEROES PARK REC AND AQUATICS CENTER $ 63,178 CIPPK22007 ROSE LANE PARK IMPROVEMENTS $ 189,355 CIPPK22011 MARY SILVA PARK IMPROVEMENTS $ 149,706 CIPPK22012 HIDDEN MEADOW PARK IMPROVEMENTS $ 143,022 CIPPK22013 HERITAGE PARK IMPROVEMENTS $ 89 CIPPK22014 HILLCREST PARK IMPROVEMENTS $ 77,020 CIPPK22017 O'NEIL PARK IMPROVEMENTS $ 1,095,549 CIPPK22018 MONTARA PARK IMPROVEMENTS $ 5,057 CIPPK22019 CARMEL PARK IMPROVEMENTS $ 696 CIPPK22020 DELICIAS PARK IMPROVEMENTS $ 45,784 CIPPK22027 MYRTLE PARK IMPROVEMENTS $ 5,516 CIPPK22100 BONSALL PARK NORTH IMPROVEMENTS $ 219,331 CIPPK23024 SANDS PARK IMPROVEMENTS $ 255,171 CIPPK23025 PASEO RACQUET SPORTS $ 453,987 CIPPK23026 PASEO SPORTS COMPLEX $ 1,081,363 CIPPK23044 MURPHY PARK $ 96,051 CIPPK24002 ADA UPGRADES $ 67,799 TOTAL $ 3,948,674 Bond Category 2023 Amount Issued 2024 Amount Issued Total Amount Issued Amount Expended to Date Amount Remaining Park Bonds $ 6,021,621 $ 0 $ 6,021,621 $ 3,948,674 $ 2,072,947 16 CIPPK22011 – Mary Silva Park Improvements 17 CIPPK23025 – Paseo Racquet Center CIPPK23026 – Paseo Sports Complex 18 CIPPK23025 – Paseo Racquet Center CIPPK23026 – Paseo Sports Complex 19 CIPPK22012 – Hidden Meadows Park Improvements Before After 20 Flood Control Bonds Project # Project Title Total Expenditures CIPDR21034 BETHANY HOME SD, 43RD TO 51ST AVE $ 254,815 TOTAL $ 254,815 Bond Category 2023 Amount Issued 2024 Amount Issued Total Amount Issued Amount Expended to Date Amount Remaining Flood Control Bonds $ 4,359,750 $0 $ 4,359,750 $ 254,815 $ 4,104,935 21 Cultural Facility Bonds Bond Category 2023 Amount Issued 2024 Amount Issued Total Amount Issued Amount Expended to Date Amount Remaining Cultural Facililty Bonds $ 4,000,000 $ 6,121,638 $ 10,121,638 $ 913,533 $ 9,208,105 Project # Project Title Expenditures to Date CIPPK77516 AMPHITHEATER RENOVATIONS $ 913,534 TOTAL $ 913,534 22 CIPPK77516 – Amphitheater (Before) 23 CIPPK77516 – Amphitheater (Artist Rendering) 24 Library Bonds Bond Category 2023 Amount Issued 2024 Amount Issued Total Amount Issued Amount Expended to Date Amount Remaining Library Bonds $ 2,983,732 $ 6,500,000 $ 9,483,732 $ 2,607,578 $ 6,876,154 Project # Project Title Expenditures to Date CIPFC24051 PERFORMANCE BASED CONTRACTS $ 2,296,312 CIPLB19045 VELMA TEAGUE INFRASTRUCTURE IMPROV. $ 166,794 CIPLB19046 MAIN LIBRARY RENOVATION $ 144,472 TOTAL $ 2,607,578 25 Streets Bonds Project # Project Title Total Expenditures CIPST25073 ST RECON CAMELBACK - 59TH TO 79TH $ 148,400 TOTAL $ 148,400 Bond Category 2023 Amount Issued 2024 Amount Issued Total Amount Issued Amount Expended to Date Amount Remaining Street Bonds $ 0 $ 5,953,292 $ 5,953,292 $ 148,400 $ 5,804,892 26 G. O. Bonds – Issuance Summary Bond Category 2023 Amount Issued 2024 Amount Issued Total Amount Issued Amount Expended to Date Amount Remaining Public Safety Bonds $ 27,161,214 $ 15,681,112 $ 42,842,326 $ 23,797,826 $ 19,044,500 General Government Bonds $ 13,938,683 $ 3,550,696 $ 17,489,379 $ 14,077,389 $ 3,411,990 Open Space/Trail Bonds $ 9,000,000 $ 10,622,564 $ 19,622,564 $ 224,698 $ 19,397,866 Park Bonds $ 6,021,621 $ 0 $ 6,021,621 $ 3,948,674 $ 2,072,947 Flood Control Bonds $ 4,359,750 $ 0 $ 4,359,750 $ 254,815 $ 4,104,935 Cultural Facililty Bonds $ 4,000,000 $ 6,121,638 $ 10,121,638 $ 913,533 $ 9,208,105 Library Bonds $ 2,983,732 $ 6,500,000 $ 9,483,732 $ 2,607,578 $ 6,876,154 Street Bonds $ 0 $ 5,953,292 $ 5,953,292 $ 148,400 $ 5,804,892 TOTAL $ 67,465,000 $ 48,429,302 $ 115,894,302 $ 45,972,914 $ 69,921,388 27 Future Issuances/Projects 28 G. O. Bonds – 2025 Issuance (Fall 2025) Bond Category Amount Issued Amount Expended Amount Remaining Public Safety Bonds $ 14,059,282 $ - $ 14,059,282 Streets $ 2,719,282 $ - $ 2,719,282 Flood Control $ 1,875,211 $ - $ 1,875,211 Open Space/Trail Bonds $ 1,700,966 $ - $ 1,700,966 General Government Bonds $ 539,471 $ - $ 539,471 TOTAL $ 20,894,212 $ - $ 20,894,212 29 G. O. Bond Projects – 2025 Issuance Project # Project Title Total Budget CIPPS19041 MAIN PUBLIC SAFETY BLDG RENOVATION $ 6,632,670 CIPPS19043 GATEWAY POLICE STATION RENOVATION $ 75,750 CIPPS19044 FIRE STATION #154 RELOCATION $ 4,970,140 CIPPS19050 FIRE STATION #155 RENOVATION $ 1,017,222 CIPPS26005 FIRE RESOURCE CENTER REPLACEMENT $ 151,500 CIPPS26007 FIRE STATION INGRESS & EGRESS ENHANCE $ 1,212,000 TOTAL $ 14,059,282 Project # Project Title Total Budget CIPST25074 STREET RECON CAMELBACK 75TH TO 83RD $ 1,343,608 CIPST25075 STREET RECON 75TH AVE - DEER VALLEY TO BEARDSLY $ 1,376,220 TOTAL $ 2,719,828 30 G. O. Bond Projects – 2025 Issuance Project # Project Title Total Budget CIPDR21034 BETHANY HOME ROAD SD, 43RD TO 51ST AVE $ 1,875,211 TOTAL $ 1,875,211 Project # Project Title Total Budget CIPPK22034 THUNDERBIRD PASEO IMPROVEMENTS $ 1,700,966 TOTAL $ 1,700,966 Project # Project Title Total Budget CIPFC19016 GLENDALE OPERATIONS CAMPUS $ 539,471 TOTAL $ 539,471 31 Questions?