LWVCNM Voters’ Guide
2009 Albuquerque Municipal Election
Bond Issues

(updated 9/19/2009)

Seal of the City of Albuquerque, 1706

 

 

Ten General Obligation (G.O.) bond questions will appear on the Oct. 6, 2009 election ballot. The total amount of the proposed capital projects is $159.940.00 for the two-year bond cycle. The projects have been grouped according to their general purposes into ten ballot questions. These G. O. bond projects are grouped by purpose so that voters have the option of approving one purpose and not another. Once approved, the funds must be used for the approved purpose only. The projects proposed for voter approval were selected through a planning process that involves the Mayor, City Council and the public.

General Obligation Bonds and Taxes

There are several types of bonds, the most significant being General Obligation bonds and Revenue bonds. In this election, the ballot questions deal only with G. O. bonds. A bond represents a debt for money borrowed by a government to finance capital improvement projects. The government promises to repay the amount borrowed, plus interest over a period of time.

General Obligation bonds require approval by the voters. Historically the City of Albuquerque has limited the size of requested G. O. bond issues in order to keep the City's property tax rate level from one bond issue to the next. The G. O. bonds issued by the city are paid from property tax revenues. New bonds are issued as older bonds are retired, keeping the City's debt service levy at a fairly constant level.

The bonds are called "General Obligation" because payment of the debt service (principal and interest) is a general obligation of the City and its property owners. That is, the bonds are backed by the full faith and credit of the City. The City receives only about 30% of the property taxes paid by the typical Albuquerque homeowner; almost 70% goes to other governmental and educational entities. The City property tax rate will not increase for these G.O. bonds.

Public Safety Bonds

Shall the City of Albuquerque issue $8,444,000 of its general obligation bonds to design, develop, study, construct, modernize, automate, renovate, rehabilitate, recondition, landscape, furnish, enhance and otherwise improve, and to acquire land and buildings, vehicles, apparatus, and equipment for, police and fire department facilities?

Senior, Family, Community Center and Community Enhancement Project Bonds

Shall the City of Albuquerque issue $22,736,000 of its general obligation bonds to design, develop, construct, demolish, equip, reconstruct, renovate, rehabilitate, expand, repair, study, landscape, streetscape, enhance and otherwise improve, and to acquire land for, City-owned community centers including those for families, youth, senior citizens, and economic development; and for community enhancement projects?

Parks and Recreation Bonds

Shall the City of Albuquerque issue $34,405,000 of its general obligation bonds to study, map, plan, design, develop, construct, rehabilitate, renovate, expand, furnish, landscape, protect, enhance and otherwise improve, and to acquire land, vehicles and equipment for, park and recreational facilities, including public parks and facilities within those parks, swimming pools, tennis courts, open space, medians, bikeways, bosque lands, and trails?

Energy and Water Conservation, Public Facilities, and System Modernization Bonds

Shall the City of Albuquerque issue $16,257,000 of its general obligation bonds to modernize, make energy- and water-efficient, upgrade, equip, improve, acquire, design, survey, develop, construct, rehabilitate, renovate, maintain, expand, furnish, equip, enhance, and otherwise improve, and to acquire land, vehicles and equipment for, public buildings, facilities, and systems?

Library Bonds

Shall the City of Albuquerque issue $5,101,000 of its general obligation bonds to study, plan, design, develop, construct, reconstruct, renovate, rehabilitate, modernize, preserve, automate, upgrade, landscape and otherwise improve, and to acquire books, media, and equipment for, public libraries?

Street Bonds

Shall the City of Albuquerque issue $31,435,000 of its general obligation bonds to study, design, develop, construct, reconstruct, rehabilitate, renovate, automate, modernize, sign, enhance, landscape and otherwise improve, and to acquire land and equipment for municipal streets and roads, interstate roadways and interchanges, medians, trails, bikeways, walkways, sidewalks, railroad crossings, and bridges?

Public Transportation Bonds

Shall the City of Albuquerque issue $7,828,000 of its general obligation bonds to design, develop, construct, rehabilitate, renovate, expand, recondition, modernize, automate, study, furnish, enhance and otherwise improve, and to acquire land, vehicles, and equipment for public transportation facilities?

Storm Sewer System Bonds

Shall the City of Albuquerque issue $13,837,000 of its general obligation bonds to plan, design, develop, construct, reconstruct, rehabilitate, renovate, expand, extend, enhance, study, monitor and otherwise improve, and to acquire land and equipment for the storm sewer system?

Zoo, Biological Park, Museum, amd Cultural Facility Bonds

Shall the City of Albuquerque issue $9,797,000 of its general obligation bonds to study, design, develop, construct, reconstruct, rehabilitate, renovate, repair, refurbish, modernize, preserve, maintain, expand, enhance and otherwise improve, and to acquire artifacts, exhibits, furnishings and equipment for, the municipal zoo, botanic garden, aquarium, and City-owned museums and cultural facilities?

Affordable Housing Bonds

Shall the City of Albuquerque issue $10,100,000 of its general obligation bonds in support of the Workforce Housing Act to provide resources towards the construction and rehabilitation of high quality, permanently affordable housing for low to moderate working families, including affordable senior rental?


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