Albuquerque, New Mexico, Public Transportation Bonds, Question 7 (October 2017)
| Question 7: Albuquerque Public Transportation Bonds |
|---|
|
| The basics |
| Election date: |
| October 3, 2017 |
| Status: |
 Approved
|
| Topic: |
| City bonds |
| Related articles |
| City bonds on the ballot October 3, 2017 ballot measures in New Mexico Bernalillo County, New Mexico ballot measures Albuquerque 2017 elections |
| See also |
| Albuquerque, New Mexico |
| October 2017 election |
|---|
| Question 1 |
| Question 2 |
| Question 3 |
| Question 4 |
| Question 5 |
| Question 6 |
| Question 7 |
| Question 8 |
| Question 9 |
| Question 10 |
| Question 11 |
| Ordinance |
| A yes vote was a vote in favor of increasing the city's debt by $6 million by issuing general obligation bonds in that amount to fund the improvement of public transportation facilities. |
| A no vote was a vote against increasing the city's debt by $6 million by issuing general obligation bonds in that amount to fund the improvement of public transportation facilities. |
The precise amount of bond revenue proposed under Bond Question 7 was $5,960,000. A list of specific proposed projects to be funded by Bond Question 7 revenue is available here. The single largest expenditure listed—$4.5 million—was earmarked for purchasing vehicles and related equipment, thereby qualifying the city for federal matching funds of about $5 for ever $1 of local funding spent.
This bond question was part of an eleven-question, $125 million bond package put on the ballot for the election on October 3, 2017. Each of the eleven bond questions requested bond revenue for a certain purpose or group of related projects. State law restricts the use of any revenue from approved bond questions to the stated purpose in the bond question. The city's policy, although not a legal restriction, was to issue bonds that mature within at most 13 years. General obligation bonds were generally paid for through property tax revenue. City officials estimated that the proposed bond package would not result in an increase in the property tax rate of the city because of past bond issue debt that had been paid down. If all of the bond issues had been rejected, annual property taxes would have decreased by $41 per $100,000 in assessed home value.[1][2][3]
Election results
| Question 7 | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
| Yes | 51,994 | 56.26% | ||
| No | 40,427 | 43.74% | ||
- Election results from Albuquerque Elections Office
Text of measure
Ballot question
The ballot question was as follows:[4]
| “ |
Shall the City of Albuquerque issue $5,960,000 of its general obligation bonds to design, develop,construct, rehabilitate, renovate, expand, recondition, modernize, automate, study, furnish, enhance and otherwise improve, and to acquire property, vehicles, and equipment for public transportation facilities?[5] |
” |
Path to the ballot
This measure was part of an eleven-question general obligation bond package (GO Bonds) put on the ballot by the city council for the election on October 3, 2017. State law requires each proposed general obligation bond revenue purpose—a group of related projects—to go before voters separately so voters can decide each purpose or question independently of the others in the bond package. The city council, however, considers, amends, and votes on the bond package in a single resolution, along with other capital improvement budget elements. Albuquerque general obligation bonds begin with discussion and collaboration between the mayor, his staff, the public, and the city council. This process for the 2017 GO Bonds was guided by a set of policies and criteria for evaluating the priority of proposed projects that was drafted and approved by the city council in early 2016.[6]
In late 2016, Mayor Richard Berry submitted to the Environmental Planning Commission (EPC) a proposal for a 2017 GO Bond package as part of his larger Capital Improvement Program (CIP), which includes projects paid for out of the city's general fund, revenue bond plans, the Component Capital Improvement Plan (CCIP)—which guides the use of impact fee revenue—the Consolidated Plan, and the Metropolitan Redevelopment Plan. A public hearing was held by the EPC, and then two public hearings were held by the city council. On February 22, 2017, the city council approved several amendments to the CIP resolution and then passed it in an 8-0 vote, with Councilman Dan Lewis (District 5) excused. This vote triggered the eleven bond issue questions on the October 2017 ballot.[6][7]
Recent news
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See also
External links
Footnotes
- ↑ City of Albuquerque, "Summary of 2017 G.O. Bond Program," accessed September 28, 2017
- ↑ City of Albuquerque, "General Obligation Bond Funding," accessed September 28, 2017
- ↑ Albuquerque Journal, "$125M in bonds on Albuquerque ballot," September 15, 2017
- ↑ City of Albuquerque, "Election Bond Questions," accessed September 21, 2017
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ 6.0 6.1 City of Albuquerque, "2017 Go Bonds: Introduction," accessed September 27, 2017
- ↑ City of Albuquerque, "City Council Meeting Minutes - February 22, 2017," accessed September 28, 2017
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