Proposition 3 - Areawide Public Safety and Transit Capital Improvement Bonds

For the purpose of upgrading the infrastructure of the Anchorage Area-Wide Radio Network, acquiring new replacement ambulances and a heavy rescue vehicle, making improvements to transit facilities and centers, acquiring and replacing transit vehicles and support equipment and undertaking bus stop improvements and school zone safety improvements and related capital improvements, in Anchorage as provided in AO 2021-5, shall Anchorage borrow money and issue up to $5,300,000 in principal amount of general obligation bonds and increase the municipal tax cap by an annual amount not to exceed $2,000 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 $1.13 to retire the proposed bonds, and (ii) an annual increase in the municipal tax cap (Charter 14.03(b)(2)) of approximately $0.01 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.