Alibi V.16 No.39 • Sept 27-Oct 3, 2007 

Feature

General Obligation Bonds

Alibi Endorses All of Them

What the hell is a General Obligation Bond, anyway? Glad you asked. Essentially, a bond represents money borrowed by the city to finance various public services and infrastructure. If these measures pass, the city promises to repay them over time with interest. As older bonds get paid off, new bonds are put to citizens for a vote. Because of this, the city's debt remains relatively level over time. This also keeps the property tax rate for Albuquerque homeowners relatively stable. In other words, you're not going to get jacked with a fat bill if you vote for these. If you don't vote for them, on the other hand, city parks, fire stations, roads, sidewalks, bridges community centers, storm drains and police cars won't be maintained. Libraries won't get new books. The planned aquarium expansion won't happen and neither will Phase II of the Tingley Beach project. Affordable housing for low-income families won't be constructed.

Bottom line: Don't be a jerk. This time around there don't seem to be any contentious items on the list, so just vote for them. You'll feel better about yourself.