Bonds

\ Sep 24, 2009

2 min read

The Alibi endorses all bonds proposed on the ballot. This year, all bonds are General Obligation (GO). Bonds are debt the city incurs for capital improvement projects. When a city takes out a bond, it promises to pay the balance back in full with interest. None of these bonds will increase property taxes. Here’s what you’re being asked to vote for.

General Obligation Bonds

Total proposed cost: $159,940,000

Public Safety

$8,444,000 to go to police and fire department facilities.

Senior, Family, Community Center and Community Enhancement Project

$22,736,000 for city-owned community centers, including those for youth, senior citizens, families and economic development, as well as community enhancement projects.

Parks and Recreation

$34,405,000 to maintain and/or create parks, swimming pools, tennis courts, open space, bikeways, Bosque, medians and trails.

Energy and Water Conservation, Public Facilities and System Modernization

$16,257,000 to modernize public buildings and facilities as well as make them more water- and energy-efficient.

Library

$5,101,000 for books, media and equipment for public libraries.

Street

$31,435,000 for roads, medians, trails, pedestrian areas, bikeways, railroad crossings and bridges. Includes $4 million for the reconstruction of Lead and Coal.

Public Transportation

$7,828,000 to keep the city’s already existing public transit system operating. Includes funds for things like bus shelters, park and rides, equipment upgrades, etc.

Storm Sewer System

$13,837,000 for storm drainage improvements and other things that help keep our city from flooding when it rains.

Zoo, Biological Park, Museum and Cultural Facility

$9,797,000 for repairs and updates to the zoo, BioPark, KiMo Theatre and Albuquerque Museum.

Affordable Housing

$10,100,000 to help create permanent, quality, affordable housing for working families, including affordable senior rentals.