Alibi V.17 No.44 • Oct 30-Nov 5, 2008 
Alibi’s Online Election Guide

Feature

Bonds

The Alibi endorses all bonds proposed this election cycle. Here's a breakdown of what you're being asked to vote for.

State General Obligation Bonds

Together would cost $223,802,000

Bond A: Senior Citizen Facility Improvements—Yes

Would put $14,725,000 toward improvements, construction and equipment for 148 senior citizen facilities in 29 counties.

Bond B: Library Acquisitions—Yes

Asks for $11,019,000 for library books, equipment and resources for public, academic and tribal libraries.

Bond C: Health Facility Improvements—Yes

Requests $57,925,000 for cancer research and treatment facilities, educational medical facilities and other statewide and regional health facilities.

Bond D: Higher Education and Special Schools Improvements and Acquisitions—Yes

Asks for $140,133,000 for construction, renovations, upgrades and other capital acquisitions for higher educational and special school facilities.

Bernalillo County General Obligation Bonds

Together would cost $20,750,000

Bond Question 1: Library—Yes

Wants $1,000,000 for library books and other resources.

Bond Question 2: Public Safety—Yes

Requests $4,750,000 for the design, construction and outfitting of an emergency center in the East Mountains; a Sheriff's Regional Training Academy; and fire stations.

Bond Question 3: Parks and Recreation Facilities—Yes

Asks for $2,500,000 to plan, design, construct, equip, redevelop and furnish parks and recreational facilities.

Bond Question 4: Community Health Services—Yes

Would use $2,000,000 to build and equip a medical clinic for family public health services.

Bond Question 5: Roads—Yes

Wants $7,000,000 to design, construct and repair roads.

Bond Question 6: Storm and Wastewater—Yes

Requests $3,500,000 for storm sewer and wastewater systems repair and infrastructure development in the South Valley.

AMAFCA Bond Question—Yes

The Albuquerque Metropolitan Arroyo Flood Control Authority seeks $20,000,000 to fund improvement of the flood control system.

What's a bond?

A bond is a debt the government borrows with the promise that it will be repaid with interest. "General Obligation" bonds are referred to as such because they represent a general obligation of repayment from the government.

How is a bond repaid?

The state pays back bonds with property taxes.

How will it affect me?

According to the State Board of Finance, if all four state GO bonds are approved this year, annual property tax bills will increase by an average of $15.61 for every $100,000 of asset value over a 10-year period. That additional tax breaks down per GO bond as follows—Bond A: $1.03; Bond B: $0.77; Bond C: $4.02; Bond D: $9.77.

Some older bonds in Bernalillo County are being retired this year, which would lower property tax bills. This also means that even if all six Bernalillo County GO bonds are approved, property taxes won’t rise above what they are now.