Res. No. 5488 - Calling Bond Election

City of Chandler — Regular Meeting (2021-05-27)

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RESOLUTION NO. 5488

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHANDLER,
ARIZONA, 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.

WHEREAS, the City Council of the City of Chandler, Arizona (the “City”), believe it to be in
the best interest of the City to authorize the issuance and sale of $272,685,000 principal amount
of General Obligation Bonds; and

WHEREAS, it is necessary that the City Council submit the question of the issuance and sale of
such bonds to the qualified electors of the City.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chandler, Arizona,
as follows:

Section 1.
Order Election; Ballot. A special bond election in the City is hereby ordered and
called to be held on November 2, 2021 to submit to the qualified electors of the
City the questions as shown on the form of ballots attached hereto and marked
Exhibit A. If approved, the bonds may be issued as general obligation bonds
pursuant to Title 35, Chapter 3, Article 3, as amended, payable from an ad
valorem tax levied on all taxable property within the corporate limits of the City.

Section 2.
Submitting Arguments. Pursuant to Arizona Revised Statutes (“A.R.S.”) § 35-
454, as amended, the City hereby sets the date of August 4, 2021 at the hour of
5:00 p.m. as the deadline to submit arguments “for” or “against” authorization to
issue the bonds. Each argument shall not exceed 300 words in length and shall
contain the original, notarized signatures of each person sponsoring it. With each
argument supporting or opposing the bond election, one hundred fifty dollars
($150.00) shall be deposited with the City Clerk to offset a portion of the
proportionate cost of paper and printing the argument. The City Clerk is
authorized to publish in a newspaper of general circulation within the City a
notice stating the deadline for filing with the City of arguments “for” or “against”
the bonds, for inclusion in the Informational Pamphlet pertaining to the bonds. A
form of the notice requesting arguments “for” and “against”, including the
deadline for submitting arguments, is attached hereto as Exhibit B. The City Clerk
is authorized to revise the form of notice hereto as necessary to comply with all
applicable laws.

Section 3.
Call for Election. Pursuant to A.R.S. § 35-455(B), the aggregate amount of bonds
set forth above shall bear a maximum rate of interest of eight percent (8.0%), may
run for a minimum number of years from their date of one (1) year or fraction
thereof and a maximum of twenty-five (25) years. The current outstanding

Resolution No. 5488
Page 2

general obligation debt of the City for the purposes included in the twenty percent
(20%) debt limit category is $237,328,100 and for the purposes included in the six
percent (6%) debt limit category is $5,851,900. The twenty percent (20%) and six
percent (6%) constitutional debt limits of the City are $936,511,789 and
$280,953,537, respectively. The bonds may be refunded by the issuance of
refunding bonds of a weighted average maturity of less than 75% of the weighted
average maturity of the bonds being refunded.

Section 4.
Informational Pamphlet Preparation. The City Clerk is hereby directed to cause
the preparation and distribution of an informational pamphlet and sample ballot
for the City pursuant to and meeting the requirements of, A.R.S. § 35-454 and, if
the City Clerk determines it to be in the City’s best interests, combine such
informational pamphlet and sample ballot with any other publicity pamphlet being
prepared for the City’s general election. The officers of the City are hereby
authorized to prepare and deliver or cause to be prepared and delivered to the City
Clerk the information necessary or appropriate for completing the information
pamphlet, including, without limitation: the estimated debt retirement schedule for
the current amount of bonds outstanding; estimated debt retirement schedule for
the proposed bond authorization; source of repayment; estimated issuance cost;
estimated tax impact on an average owner-occupied residence, commercial,
industrial and agricultural or other vacant property; estimated total cost of the
proposed bond authorization, including principal and interest; current outstanding
general obligation debt and constitutional debt limitation; an introductory
statement on behalf of the City; and a statement of the purpose for which the
bonds are to be issued.

Section 5.
Notice. Notice of the special bond election is ordered to be given by causing the
information pamphlet to be mailed not less than thirty-five (35) days before the
date of election to the residence of each registered voter of the City as shown on
the general county register. The City Clerk is hereby authorized and directed to
cause the information pamphlet to be prepared and mailed as required by law and
in accordance with the provisions of this resolution and to cause a copy of the
informational pamphlet to be submitted to the Arizona Department of Revenue
within thirty (30) days after the election.

Section 6.
Conduct of Election. The election will be conducted through the administration
of a mail ballot election in the manner provided by law. Only persons will be
allowed to vote at the election who are qualified electors of the City. The election
may be consolidated with any other election conducted in the City on November
2, 2021.

Section 7.
Early Voting. Early voting will be permitted at the election in accordance with
the provisions of Title 16, Chapter 4, Article 8, Arizona Revised Statutes, as
amended.

Section 8.
Voting Rights Act. In order to comply with the Voting Rights Act of 1965, as

Resolution No. 5488
Page 3
amended, the following proceedings pertaining to the Election will be translated
into Spanish and posted and published in each instance where posting and
publication of such proceedings are required, to-wit: ballot, notice, request for
“for” and “against” arguments, Informational Pamphlet, all voting materials and
all voting instructions. The officers of the City are further authorized and directed
to take all action necessary to comply with the Voting Rights Act of 1965, as
amended.
Section 9.
Conduct; Contracts. The City Clerk is authorized to enter into any agreements
with Maricopa County Elections Department and any necessary vendors to
provide elections services for the administration and payment of fees for services
for the November 2, 2021, Special Election.
Section 10.
Canvass. The City Council will meet at the Council Chambers on a day that is
within twenty (20) days after the election date to canvass the returns of the
election and will file and record a certificate of result of election in the office of
the Maricopa County Recorder. The City Council will be governed by the vote of
the majority on the question submitted.
PASSED AND ADOPTED by the City Council of the City of Chandler, Arizona, on this 27th
day of May, 2021.
ATTEST:
CITY CLERK
MAYOR
CERTIFICATION
I HEREBY CERTIFY that the above and foregoing Resolution No. 5488 was duly passed and
adopted by the City Council of the City of Chandler, Arizona, at a regular meeting held on the
27th day of May, 2021, and that a quorum was present thereat.
CITY CLERK
Exhibit A: Ballot Language
Exhibit B:
Notice Requesting Arguments “For” and “Against” Bond Election

EXHIBIT A

BALLOT LANGUAGE

FOR SPECIAL BOND ELECTION IN AND FOR THE CITY OF CHANDLER,
ARIZONA ON NOVEMBER 2, 2021.

General Provisions for all Bond Questions

The following provisions apply to all bonds to be voted on. Specific information for each issue
is set out for each question.

In addition to each specific authorized purpose, bond proceeds may be used to pay for bond
insurance or other credit support for the bonds, all legal, accounting, financial, architectural,
design, engineering and construction management costs and all other costs incurred in connection
with the issuance of the bonds and the purposes set forth in each question. The City may contract
for letters of credit, surety bonds, lines of credit or other credit or liquidity support in connection
with any one or more series of bonds.

►
The bonds may be issued in one or more series.

►
The bonds may be issued in the denomination of $1,000 each or multiples thereof.

►
Interest rates may be fixed or variable but shall not exceed 8.0% per annum.

►
Interest may be evidenced by separate certificates and will be payable on July 1 and
January 1 or more frequently.

►
The bonds, and any bonds issued to refund the City’s bonds, may be sold at prices that
include premiums not greater than permitted by law.

►
Bonds will mature over a period not to exceed 25 years from their date of issuance.

►
Bonds will mature on the days of each year determined by the Mayor and Council.

THE VOTER MAY VOTE “BOND APPROVAL, YES” OR “BOND APPROVAL, NO” ON
EACH SEPARATE QUESTION.

Question No. 1

PURPOSE:
PARK AND RECREATION IMPROVEMENTS/COMMUNITY SERVICES
BONDS
AMOUNT:
$72,985,000

Shall the Mayor and Council of the City of Chandler, Arizona, be authorized to issue and sell the
following bonds of the City:

Purposes: To construct, improve and acquire community, neighborhood, regional and aquatic
parks, including recreational facilities, buildings and improvements; to acquire land for parks,
recreational facilities, buildings and open spaces; to make improvements, additions and
replacements to existing parks and recreational facilities and buildings; to landscape, furnish and
equip existing and new parks and recreational facilities and buildings.

Payment of Bonds: Each series of these bonds will be issued at the option of the Mayor and
Council as general obligation bonds of the City pursuant to Title 35, Chapter 3, Article 3,
Arizona Revised Statutes, payable from the levy of an ad valorem tax against the taxable
property located within the City, and the issuance of these bonds will result in a property tax
increase sufficient to pay the annual debt service of the bonds, unless the Mayor and Council
provide for payment from other sources.

A “yes” vote shall authorize the Chandler governing body to issue and sell $72,985,000 of
general obligation bonds of the City to be repaid with secondary property taxes.

A “no” vote shall not authorize the Chandler governing body to issue and sell such bonds of the
City.

BOND APPROVAL, YES

BOND APPROVAL, NO

“Tag Line” language:

Shall Chandler be authorized to issue and sell $72,985,000 general obligation bonds for park and
recreation improvements/community services?

Question No. 2

PURPOSE:
PUBLIC SAFETY/FIRE BONDS
AMOUNT:
$25,160,000

Shall the Mayor and Council of the City of Chandler, Arizona, be authorized to issue and sell the
following bonds of the City:

Purposes: To construct, improve, renovate and remodel fire stations and other fire safety related
facilities; to furnish, equip and improve fire stations, fire safety related facilities and radio
infrastructure; and to acquire vehicles and land for fire and public safety purposes.

A “yes” vote shall authorize the Chandler governing body to issue and sell $25,160,000 of
general obligation bonds of the City to be repaid with secondary property taxes.

A “no” vote shall not authorize the Chandler governing body to issue and sell such bonds of the
City.

BOND APPROVAL, YES

BOND APPROVAL, NO

“Tag Line” language:

Shall Chandler be authorized to issue and sell $25,160,000 general obligation bonds for public
safety/fire?

Question No. 3

PURPOSE:
PUBLIC SAFETY/POLICE BONDS
AMOUNT:
$55,190,000

Shall the Mayor and Council of the City of Chandler, Arizona, be authorized to issue and sell the
following bonds of the City:

Purposes: To construct, improve, renovate and remodel police stations and other police related
facilities; to furnish, equip and improve police stations, police related facilities and radio
infrastructure; and to acquire vehicles and land for police and public safety purposes.

A “yes” vote shall authorize the Chandler governing body to issue and sell $55,190,000 of
general obligation bonds of the City to be repaid with secondary property taxes.

A “no” vote shall not authorize the Chandler governing body to issue and sell such bonds of the
City.

BOND APPROVAL, YES

BOND APPROVAL, NO

“Tag Line” language:

Shall Chandler be authorized to issue and sell $55,190,000 general obligation bonds for public
safety/police?

Question No. 4

PURPOSE:
PUBLIC WORKS/STREET AND TRANSIT IMPROVEMENTS BONDS
AMOUNT:
$85,780,000

Shall the Mayor and Council of the City of Chandler, Arizona, be authorized to issue and sell the
following bonds of the City:

Purposes: To design, acquire, improve, construct, reconstruct and rehabilitate the streets,
avenues, alleys and highways of or within the City; to design, acquire, install, construct and
reconstruct street lighting, traffic signal/control systems, underground utility lines, landscape
improvements and transit/bicycle program improvements, including shared use paths and trails;
to acquire land and interests in land for transportation purposes

A “yes” vote shall authorize the Chandler governing body to issue and sell $85,780,000 of
general obligation bonds of the City to be repaid with secondary property taxes.

A “no” vote shall not authorize the Chandler governing body to issue and sell such bonds of the
City.

BOND APPROVAL, YES

BOND APPROVAL, NO

“Tag Line” language:

Shall Chandler be authorized to issue and sell $85,780,000 general obligation bonds for public
works/street and transit improvements?

Question No. 5

PURPOSE:
MUNICIPAL FACILITIES BONDS
AMOUNT:
$33,570,000

Shall the Mayor and Council of the City of Chandler, Arizona, be authorized to issue and sell the
following bonds of the City:

Purposes: To construct, improve, renovate, replace and remodel municipal buildings and
facilities including performing arts and cultural facilities, office buildings, senior and community
recreation centers, libraries, and other municipal buildings and facilities, including such
improvements as HVAC systems, roofing, plumbing, electrical systems and generators,
technology, and other building components related thereto; to furnish and equip such municipal
facilities, and improve the grounds thereof.

Payment of Bonds: Each series of these bonds will be issued at the option of the Mayor and
Council as general obligation bonds of the City pursuant to Title 35, Chapter 3, Article 3,
Arizona Revised Statutes, payable from the levy of an ad valorem tax against the taxable
property located within the City and the issuance of these bonds will result in a property tax
increase sufficient to pay the annual debt service of the bonds, unless the Mayor and Council
provide for payment from other sources.

A “yes” vote shall authorize the Chandler governing body to issue and sell $33,570,000 of
general obligation bonds of the City to be repaid with secondary property taxes.

A “no” vote shall not authorize the Chandler governing body to issue and sell such bonds of the
City.

BOND APPROVAL, YES

BOND APPROVAL, NO

“Tag Line” language:

Shall Chandler be authorized to issue and sell $33,570,000 general obligation bonds for
municipal facilities?

EXHIBIT B

REQUEST FOR STATEMENTS “FOR” OR “AGAINST”
THE CITY OF CHANDLER, ARIZONA
BOND PROPOSITIONS

The City of Chandler, Arizona (the “City”), will hold a bond election, Tuesday, November 2,
2021, to seek approval of bonds for park and recreation improvements/community services,
public safety/fire, public safety/police, public works/street and transit improvements, and
municipal facilities purposes in the principal amount not to exceed $272,685,000. The estimated
average tax rate for the proposed bond authorization is $0.52 per $100 of net assessed value used
for secondary tax purposes. An informational pamphlet will be mailed to households of
registered voters within the City. Any persons wishing to submit a statement “for” or “against”
the bond question may do so by mail or hand delivery of the statement to the Office of the City
Clerk, City of Chandler, 175 S. Arizona Avenue, 1st Floor, Chandler, Arizona 85225; telephone:
(480) 782-2181. Each argument shall not exceed 300 words in length and shall contain the
original, notarized signature of each person sponsoring it. If the argument is sponsored by an
organization, the original, notarized signatures of two executive officers are required. If the
argument is sponsored by a political committee, the original, notarized signature of the
committee’s chair or treasurer is required. Persons signing shall also identify themselves by
giving their residence or post office address and a telephone number, which shall not appear in
the pamphlet. With each argument supporting or opposing the proposition, one hundred fifty
dollars ($150.00) shall be deposited with the City Clerk to offset a portion of the proportionate
cost of paper and printing the argument. The signed, notarized statement and deposit must be
received in the Office of the City Clerk on or before 5:00 p.m., August 4, 2021. The last day to
register to vote at this election is Monday, October 4, 2021. For more information concerning
the election, please contact the Office of the City Clerk, City of Chandler, 175 S. Arizona
Avenue, 1st Floor, Chandler, Arizona 85225, telephone: (480) 782-2181.

Publish in a newspaper of general circulation within the City.