Proposition 1 - Areawide Facilities Capital Improvement Project Bonds

For the purpose of providing areawide facilities capital improvements within the Municipality of Anchorage, said improvements involving building safety rehabilitation and upgrades, facility renovations, code improvement projects, pool filtration system, public restrooms, solar panel energy saving improvements and related capital improvements, as provided in AO 2021-6(S), shall Anchorage borrow money and issue up to $6,905,000 in principal amount of general obligation bonds and increase the municipal tax cap by an annual amount not to exceed $40,000 to pay for associated annual operations and maintenance costs? Voter approval of this bond proposition authorizes for each $100,000 of assessed taxable property value (based on the estimated 2021 areawide assessed valuation in Anchorage): (i) an annual increase in taxes of approximately $1.47 to retire the proposed bonds, and (ii) an annual increase in the municipal tax cap (Charter 14.03(b)(2)) of approximately $0.12 to pay for annual operation and maintenance costs related to the proposed capital improvements. The debt shall be paid from real and personal property taxes levied and collected areawide within Anchorage. The Municipality will also pledge its full faith and credit for payment of the bonds.