CHANDLER, Ariz. – The Resident Bond Exploratory Committee, chaired by former Chandler Mayor Jay Tibshraeny, presented its recommendations regarding the future use of general obligation bond financing to support the city’s capital improvement program.
The committee recommended a package of authorization requests for fire, police, streets and parks and recreation totaling $475 million. The recommendations include $183 million for street improvements, $158 million for improvements to parks and recreation facilities, $88 million for fire equipment and facilities and $46 million for police equipment and facilities.
The City Council will now evaluate those recommendations and determine whether to call an election and seek voter authorization for general obligation bond financing. Arizona Revised Statute requires cities to obtain voter authorization prior to selling general obligation bonds and using secondary property taxes to fund the interest and principal.
Chandler uses bonds to fund almost 70 percent of its 10-year Capital Improvement Plan. The city has the capacity to seek up to $620 million in general obligation bond authorization while maintaining the current secondary property tax rate.
Chandler City Council formed the committee of 31 residents in September to review and identify programs requiring financing. The committee toured city facilities and parks and evaluated potential uses of general obligation bond authorization totaling $728 million. The $475 million package recommended by the committee was developed through an extensive review and prioritization process that began in September.
If the City Council calls a bond election, it would be the third general obligation bond authorization request in the past 20 years for Chandler voters to consider. Residents previously approved a $451 million bond package in 2007 and $272 million bond package in 2021.
Link to Bond Committee Executive Summary