Ballot Question No. 4 -

Summary

This ballot question, if approved by the voters, would authorize the City to borrow $134,000,000 for capital purposes, thereby increasing the City’s indebtedness by $134,000,000. Capital purposes means, generally, to make expenditures that will result in something of value with a useful life to the City of more than five years, for example, acquisitions of real estate, or construction of or improvements to buildings, property or streets. The money to be borrowed would be used by the City for five identified purposes, namely, Transit; Streets and Sanitation; Municipal Buildings; Parks, Recreation and Museums; and Economic and Community Development, all in specific amounts identified in Bill No. 200298 (approved June 26, 2020). City Council would have authority, by ordinance, to change the intended allocation by moving proceeds from one category to any of the other categories listed.

A "YES" vote on Ballot Question No. 4 is a vote to authorize the City to borrow $134 million to invest in capital projects expected to benefit the city for at least 5 years, including transit; streets and sanitation; municipal buildings; parks, recreation and museums; and economic and community development.

A "NO" vote on Ballot Question No. 4 is a vote against allowing the City to borrow $134 million to invest in capital projects expected to benefit the city for at least 5 years, including transit; streets and sanitation; municipal buildings; parks, recreation and museums; and economic and community development.

Measure Details