Phoenix Looking for Community Input at GO Bond Committee Meetings
The $500 million General Obligation (GO) Bond program was passed by the mayor and city council on June 7, 2022. The city's parks, libraries, fire and police stations, affordable housing, streets, and storm drains are just a few of the amenities that require vital maintenance and renovation, which is made possible by GO Bond programs. Voters and the City Council must approve GO Bond Programs.
A general obligation bond: What is it?
Municipal bonds known as general obligation (GO) bonds give local governments a mechanism to finance significant capital expenditures. Both the right to issue bonds and a list of permitted uses for the money are included in a bond program. Voters must approve General Obligation Bond Programs, like the one for the City of Phoenix. The fifth-largest city in the nation, Phoenix, has not had a GO Bond Program since 2006.
On June 1, 2022, the City Council established a citizen-led GO Bond Committee to assess and rank suggested projects based on the Capital Needs Study and to learn what the community wants to see included in the following GO Bond Program. The Executive Committee is supported by eight subcommittees, including those for the arts and culture, economic development and education, housing, human services, and homelessness, neighborhoods & city services, parks & recreation, public safety, and streets & storm drainage.
After hearing from the public and hearing presentations from City departments on proposed projects, subcommittees will rank the projects before recommending them to the Executive Committee. The Executive Committee is tasked with formulating proposals for City Council to consider. The City Council will next decide whether or not to put a GO Bond Program on the ballot. Voters will finally decide in November 2023 whether or not to embrace the GO Bond Program, if it is authorized by Council.
Between August 2022 and December 2022, committee meetings will be held and the public is welcome to remark. The first meeting of the Executive Committee will be on August 8, 2022, while the first meeting of the subcommittees will be on August 12. Visit Phoenix.gov/bond for more details on committee meetings and how citizens can participate.
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