CLBRK ' O!T1CE APPROVED Da~t~~t~-::.L~_:-.a.L - ~ 3 4 5 '~~01"'/.3-P/ Submitted by: Prepared by: For Reading: Assemblymember Sullivan Assembly Office January 30.01 MUNICIPALITY OF ANCHORAGE ALASKA ORDINANCE NO. AO 01--.1. 6 AN ORDINANCE PROVIDING FOR THE SUBMISSION TO THE QUALIFIED VOTERS OF ANCHORAGE, ALASKA, THE 7 QUESTION OF THE ISSUANCE OF THREE MilLION NINE HUNDRED FIFTY THOUSAND DOllARS ($3,50,000) OF GENERAL OBLIGATION BONDS OF THE MUNICIPALITY OF ANCHORAGE TO PAY THE COSTS OF AMBULANCES, EMERGENCY/AREAWIDE COMMUNICATIONS, ANCHOR- AGE CEMETERY IMPROVEMENTS, ANCHORAGE SENIOR CENTER EXPANSION AND RELATED CAPITAL IMPROVE- MENTS IN THE MUNICIPALITY OF ANCHORAGE AT AN ELECTION IN AND FOR THE MUNICIPALITY OF ANCHOR- AGE ON APRil 3. 01. 1 THE ANCHORAGE ASSEMBLY HEREBY ORDAINS: 13 Section 1. It is hereby determined to be for a public purpose and in the public interest of the Municipality of Anchorage. Alaska (the "Municipality") to incur general 15 obligation bonded indebtedness in an amount not to exceed Three Million Nine Hundred 16 Fifty Thousand Dollars ($3.50.000) for the purpose of paying the costs of acquiring J.7 property for, equipping, rehabilitating, improving, constructing and upgrading emergency 1 communications systems and areawide communications systems, purchasing and/or 1 refurbishing medic units (i.e. ambulances), designing and constructing a retaining wall with 4 5 burial niches (Anchorage Cemetery), acquiring property for, rehabilitating, equipping, improving, constructing, and upgrading the Anchorage Senior Center and related capital improvements within the Municipality. Section. The sum of not to exceed Three Million Nine Hundred Fifty Thousand Dollars ($3.50.000) shall be borrowed by. for and on behalf of the Municipality for the aforesaid capital improvements, and shall be evidenced by the issuance of general obligation bonds of the Municipality The bond proceeds shall be used only for payment of capital Improvements and costs of issuance of the bonds. The full faith and credit of the AM 1-01
1 Municipality is pledged for the payment of the principal of and interest on the bonds, and ad valorem taxes upon all taxable property in the Municipality shall be levied without 3 limitation as to rate or amount to pay the principal of and interest on the bonds when due. 4 Section 3. An election is to be held on April 3, 01, in and for the Municipality, for 5 the purpose of submitting a general obligation bond proposition to the qualified voters of $ the Municipality for approval or rejection The proposition must receive a majority vote of 1 those in the Municipality voting on the question to be approved. The proposition shall be substantially in the following form: PROPOSITION NO. ' 1 Shall Anchorage borrow up to $3,50,000 through the 13 1~ 1..6 issuance of general obligation bonds to pay costs of equipping, rehabilitating, improving and constructing emergency communications systems and areawide communications systems, purchasing and/or refurbishing ambulances, designing and constructing a retaining wall with burial niches (Anchorage Cemetery), acquiring property for, rehabilitating, equipping, improving, constructing and upgrading the Anchorage Senior Center and related capital improvements within Anchorage? 1 1. 4 5 Voter approval of this bond proposition authorizes for each $0,000 of assessed taxable property value (based on the estimated total 01 areawide assessed valuation in Anchorage) an annual increase in taxes of approximately $.4 to retire the proposed debt. The debt shall be paid from real and personal property taxes levied and collected areawide within Anchorage. Anchorage will also pledge its full faith and credit for payment of the bonds. (No. AO 01-. Orolnlnce $ - No. 01. Page A:1AOO ~ aq;;d PnIpoIiIion - AndIorge Slnlor CenIr. Sullivan..
lc.3 4 5 6 J Section 4. The proposition, both for paper ballots and machine ballots, shall be printed on a ballot which may set forth other general obligation bond propositions, and the following words shall be added as appropriate and next to a square provided for marking the ballot or voting by a machine: PROPOSITION NO. Yes No Section 5. Section of this Ordinance shall become effective only if the proposition described in Section 3 is approved by a majority of the qualified voters voting on the proposition at the regular election on April 3, 01. Ordinance shall become effective upon passage and approval I:] c The remaining sections of this PASSED AND APPROVED by the Assembly of Anchorage. Alaska, this J;!L th day of February 01 1 ];) /.,.;' 15 ATTE Sf: 16 1 ~ b A..dIf./A ~ J ~ ~~AI~~ M~TPal Clerk - If - - - ~ 1 4 5 Ordinance No. 01- A:\A00 - AlNwlde ~ Proposition - AndQge s.w. c.w. ~.. Page 3
MUNICIPALITY OF ANCHORAGE ASSEMBLY MEMORANDUM NO. AM 1-01 Meeting Date:.TANU'ARY 3n, ~nnt 1 3 4 5 6 7 1 13 15 16 17 1 1 4 5 30 31 3 33 34 35 36 37 3 3 40 41 4 43 44 45 From: Subject: Assemblymember Sullivan AN ORDINANCE PROVIDING FOR SUBMISSION OF A $3,50,000 AREAWIDE BALLOT PROPOSITION TO INCLUDE FUNDING FOR THE COMPLETION OF THE ANCHORAGE SENIOR CENTER EXPANSION The attached ballot proposition is being submitted to increase the Areawide Bond Proposition by $300,000 to include funding for the completion of the Anchorage Senior Center. Based on the estimated 01 assessed valuation, the annual increase in taxes to retire the proposed bond indebtedness is estimated at $.4 per $0,000 of assessed valuation. Your support and approval of the attached ballot proposition is requested Respectfully submitted,. ~~~~-! Dan Sullivan ~ Assemblymember Reviewed by: ~~ Greg Mo'rer, Assembly Office (.,l.ju EGJ/01ASSEMBL YMEMORANDUMS/AMO Prepared by: ~b~~1\- Policy and Budget Analyst A6 01-3
MUNICIPALITY OF ANCHORAGE Summary of Economic Effects - General Government AO Number: AD 01-3 Title: Areawide Bond Proposition - $3,50,000 Sponsor: Assemblymember Sullivan Preparing Agency: Assembly Office Others Affected: All Departments CHANGES IN EXPENDITURE AND REVENUES (Thousands of Dollars) ADD: 600~harQe from OJhers LE~: 7000 Charq~ to Others FUNCTION COSTS REVENUES; CAPITAL ~ONS: FTIPT.~d T!!1P. Public Sector Economic Effects. The estimated annual debt service will be $31,6 based on a -year amortization schedule at an interest rate of 5. 75%
SUMMARY OF ECONOMIC EFFECTS Page Private Sector Economic Effects: The estimated annual debt service will be $31,6 which equates to an estimated property tax increase $.4 per year on $0,00 of the assessed valuation. Prepared by: EM Gray-Jackson Telephone: 343-4751 01SEE/SEEO7
Municipality of Anchorage :':~' ; "- MUNICIPAL CLERK'S OFFICE A1{ '1 61"34 '. 1 SUBJECT OF AGENDA DOCUMENT DATE PREPARED' I An Ordinance Providing for the Submission 1/30/01 c to the Qualified Voters!~~rage. AK the Question of INDICATE DOCUMENTS ATTACHED The Issuance of $3.50.000 of General Obrlgation Bonds of the MOA to Pay the Costs of Ambulances. AO/AM/SEE Emergency/Areawide Communications, Andlorage Cemetery Improvements. Anch~SenlorCenter expansion and Related Capital Improvements." - - 3-4 DEPARTMENT NAME Assembly DIRECTOR'S NAME Fay Van Gemmingen THE PERSON THE DOCUMENT WAS ACTUALLY PREPARED BY Elvl Gray-Jackson/Bond Counsel HIS/HER PHONE NUMBER 4751 COORDINATED WITH AND REVIEWED BY INITIALS DATE Mayor Heritage land Bank Men Field AIrport Municipal Ligl-. &PowI: Port of ~ Munic... $did Waste SetVk:es Water & Wastewater UtIlity Manger CIJ~ & ~ Services -T'\ EmpIoye R~, ",,;:,cco;. Finance. C~ PJC 0IkI' Fh <P -...:n - C"),"t.;A) ::s ~ ~~:!:":,i,, ~ &~ Selvk)es Office of Management and Budget Management InfomIaIion Services ~1C PtaMlng; Development & PIJ~ic Works ~~~ F~~~~~: Pi~ Project Management & ~ StnIet MaIntenance ~ PubIC Transportation Department C Pwchaslng Municipal AtIomey Municipal Clerk Other 5 I SPECIAL INSTRUCTIONS/COMMENTS OP~ ~~. 6 I ASSEMBLY MEETING DATE 7 PUBLIC HEARING DATE REQUESTED