Date: Mon, 12 Mar 2001 08:15:26 -0700
From: tmotola@ci.phoenix.az.us ("Tony Motola")
Subject: Re: i want to vote for city bonds but have questions
To: ########@aztec.asu.edu
Mr. Ross:
I will give you a brief overview of the bond program, but for more
detail you should contact the Building Our Future Headquarters, who
are charged with running the bond campaign. The web site is
www.phoenixbond.org or you can call at 602-297-0910.
The bond proposal would not change the City of Phoenix property tax
rate of $1.82 per $100 of assessed valuation. The total cost of the
program will be $1.6 billion, including interest, over 32 years.
Many city facilities were built by bond money. These include parks,
libraries, police and fire stations. When you make a major purchase
like a house or car, you more than likely go to the bank for financing
The bank pays the homebuilder or the car dealer, and you pay bak the
loan, with interest, over several years in amounts that fit into your
budget. Phoenix and thousands of cities all over the country do it
the same way, only with bonds. For more than a century, Phoenix has
"sold" bonds in the major bond markets to get the funds it needs to
build a fire station or a park. A small portion of your property
taxes is dedicated to repaying these loans over time, with interest.
Naturally, Phoenix wants to pay the lowest interest raes possible, as
it saves the City millions of dollars. For that reason through the
years Phoenix has been very conservative with its debt, building a
rock-solid reputation when it comes to our municipal finances. After
careful scrutiny, New York agencies like Standard & Poors and Moody's
Investor Services have awarded Phoenix one of the highest bond ratings
in the country. That equates to low interest rates and savings to our
citizens.
Since the 1950's, the City of Phoenix has entrusted its citizens to
craft its bond programs. This years bond program is no exception.
Last summer, the Phoenix City Council asked nearly 300 residents to
serve on the 2001 Citizens' Bond Committee and to lead the ten
subcommittees that would compile the list of projects to put before
the voters on March 13. Their only instructions from the City
Council: NO INCREASE IN THE PROPERTY TAX RATE. In September, they got
a $2.8 billion list of good ideas from city departments, volunteers,
and neighborhood organizations, which was far more than the city could
conservatively fund. The bond programs Fiscal Capacity Committee,
another group of volunteers, was assigned the task of determining the
city's financial readiness. It reported that Phoenix could safely
finance only about one-fourth that amount-roughly $750 million-without
a tax increase. These are reflected on the ballot as 12 separate bond
programs, which if passed, will provide funding for vital improvements
to city services including police and fire facilities, public safety
technology, parks and open space, flood control, pollution cleanup,
libraries, homeless shelters, streets and traffic improvements, family
museums and theaters, and senior centers.
I hope that answers some of your questions, and for more detailed
answers I would contact the Bond Campaign I listed for you above.
Sincerest Regards,
Tony Motola
Council Assistant
District 1
______________________________ Reply Separator _________________________________
Subject: i want to vote for city bonds but have questions
Author: Dean Howard at ~CED_PO1
Date: 3/9/01 10:50 AM
______________________________ Forward Header __________________________________
Subject: i want to vote for city bonds but have questions
Author: <########@aztec.asu.edu> at INTERNET-MAIL
Date: 3/9/01 9:02 AM
the phoenix police tell their citizens that if they
hear a line thats too good to be true its probably
not true and probably some theives or con artists
trying to steal your money.
you probably have seen the ad for the "amazing diet
that allows you to lose 40 pounds in 40 days for
only $40". yea sure if it sounds too good to be true
its probably not true.
i would love to vote for the $750,000,000 or roughly
1 billion dollars in bonds to help improve the city
of phoenix if its not going to cost me one cent more,
and it wont increase my taxes by one cent, and if it wont
keep any old taxes that are due to be repealed, and it
wont cost me any money money in other forms.
from the ads i have seen promoting the bonds that what
im told. if i vote yes these bonds wont raise my taxes
one cent. i suspect that you as a elected phoenix government
official are one of the prometers of these bonds.
to be honest this bond issue sounds like one of those
things that are too good to be true. with backers of
the bonds saying trust me the bonds are free they
wont cost you one cent sounds like a lie thats not
true.
i will gladly vote for the bonds this tueday if you
can verify that it wont cost me one cent more in raised
taxes, and wont stop the repeal of any tax cuts. and it
wont cost me one cent more if i vote for the bonds.
please explain.
thanks
mike ross
--
"When the people fear their government, there is tyranny;
when the government fears the people, there is liberty "
Thomas Jefferson