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Fall 2025 Special Bond Election Purpose of Bond Election • Selling bonds is a common practice to fund capital/infrastructure needs in a community • State law requires property taxpayers to authorize selling ad-valorem debt or General Obligation (GO) Bonds through receiving “bond authorization” • Ensures transparency with the public • As the city ages and gets closer to build-out, much of the infrastructure must be maintained or replaced to continue to provide a great quality of life for residents • A bond election allows the city to continue its Capital Improvement Plan (CIP) through additional bond authorization Why Bonds are Important as a Financing Tool Provides capital financing options for large projects when other funding sources are limited Allows debt costs to be paid by existing and new taxpayers that enjoy use of the capital asset over time Bond Authorization can be utilized through the sale of bonds over time as large capital community needs are identified Chandler maintains AAA bond ratings that result in low-cost of borrowing to fund needed community capital, which correlates to lower taxes Why Bonds are Important as a Financing Tool Need for Bond Election Chandler’s capital and infrastructure needs exceed the remaining bond authorization required to fund the City’s 10-year Capital Improvement Plan Last bond election was held in 2021 prior to unprecedented inflation How Bond Request was Formed Resident Bond Exploratory Committee Steering Committee: Jay Tibshraeny, Chair Garry Hays, At Large Member Kari Zurn, At Large Member Graig Gilbert, Facilities, Sustainability and Technology Subcommittee Chair Nina Mullins, Parks & Recreation Subcommittee Chair Rick Heumann, Public Works Subcommittee Chair Trinity Donovan, Public Safety Subcommittee Chair Citizen Bond Exploratory Committee Purpose To provide recommendation to City Council of bond authorization needed to support important public capital/infrastructure based on the highest priorities Citizen Bond Exploratory Committee Purpose Process Timeline Communication Available to all Voters • A bond election website is available as the central source for voter information • Chandleraz.gov/bondelection • Social media posts and news articles have been and will continue be released • Additional community outreach and presentations are occurring Resident Bond Exploratory Committee Recommendation Over a period of five months, the Resident Bond Exploratory Steering Committee reviewed and evaluated 37 possible bond projects with an estimated total cost of $728,095,600 Prioritized fiscal conservancy by focusing on the highest-need projects Final recommendation includes 24 projects with a $475,000,000 bond need in the areas of Fire, Police, Streets, and Parks and Recreation on the November 2025 special bond election The city projects NO increase to the property tax rate. The new bonds are timed with retiring debt, which the city projects will keep the secondary property tax rate stable at $0.87 per $100 of assessed valuation. Fall 2025 Special Charter Election Amendment 1 – Term Limits Ballot Tagline: "Shall the City Charter be amended to clarify term limits for councilmembers and mayor, including limits of two consecutive four-year terms for each office, sixteen consecutive years as a combination of councilmember and mayor, establish limits that may apply when there are two years or less between service as a councilmember and mayor, clarify a limitation on the eligibility of members who resign, and eliminate outdated language?" Amendment 2 – City Manager Terms and Severance Ballot Tagline: "Shall the City Charter be amended to allow the city council to establish the term of the city manager as the council deems appropriate and the amount of severance pay in the event of the manager’s termination?" Visit Chandleraz.gov for more information https://www.chandleraz.gov/CharterAmendment Next Steps Questions?