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Monmouth City Police Station Bond Issue, Measure 27-106 (May 2013)

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A Monmouth City Police Station Bond Issue measure was approved on the May 21, 2013, election ballot in Polk County, which is in Oregon.

This measure authorized the City of Monmouth to increase its debt by $4 million through issuing general obligation bonds in that amount in order to purchase a building and equip, renovate and furnish it to be a new police station. The estimated average annual property tax levy needed to repay these bonds in the required 25 years is $0.45 per $1,000 of assessed valuation, which is $0.17 per $1,000 of assessed valuation more than the current bond tax levy rate.[1]

Election results

Measure 27-106
ResultVotesPercentage
Approveda Yes 946 59.61%
No64140.39%
These results are from the Polk County elections office.

Text of measure

Question on the ballot:

Shall Monmouth issue $4 million in general obligation bonds to finance the purchase and renovation of new Monmouth police station? If the bonds are approved, they will be payable from taxes on property or property ownership that are not subject to the limits of sections 11 and 11b, Article XI of the Oregon Constitution.[1][2]

Summary:

Approval of this measure authorizes the City to issue up to $4 million of general obligation bonds to pay capital costs related to relocating the Mon mouth Police Station to the Forest Capital building on Highway 99 at Church Street. The current police station is located in the former Monmouth Library building, which the city has determined does not meet operational and security requirements for police services. Bond proceeds would be used to purchase, renovate, equip and furnish the Forest Capital Building to meet the requirements for police services, to relocate the police station, and to make site improvements. $1 million in savings is estimated compared to constructing a new police station.

The City estimates the bonds would cost property owners $0.45 per $1,000 of assessed value per year. With the City's Library bond retiring in 2013, this measure is estimated to result in a net increase of $0.17 per $1,000 of assessed value per year, or $31 per year on a home assessed at $180,000.

The bonds would mature in 25 years or less.[1][2]

See also

External links

References

  1. 1.0 1.1 1.2 Monmouth City election notice
  2. 2.0 2.1 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.