ANCHORAGE PARKS & RECREATION SERVICE
AREA POOL IMPROVEMENT BONDS

To improve, renovate, replace and renew pool facilities, shall Anchorage borrow money by issuing bonds in principal amount not to exceed $2,000,000, contingent upon the appropriation of funds from the State of Alaska, and increase the municipal tax cap by an amount up to $223,000 to pay for annual operations and maintenance costs, including up to $100,000 as a reserve for required repairs? The proposed capital improvements would be located within the Anchorage Parks and Recreation Service Area. The debt shall be first paid from real and personal property taxes levied and collected within the Anchorage Parks and Recreation Service Area, without cost to properties in Chugiak, Eagle River, Girdwood, and other areas outside the Service Area.

Anchorage will also pledge its full faith and credit for payment of the bonds.

Voter approval of this bond proposition authorizes for each $100,000 of assessed taxable property value (based on the estimated total 2008 assessed valuation in the Anchorage Parks and Recreation Service Area): (i) an annual increase in taxes of approximately $.60 to retire the proposed bonds, and (ii) an annual increase in the municipal tax cap (Charter 14.03(b)(2)) of approximately $.83 to pay for annual operation and maintenance costs related to the proposed capital improvements.

Reasons to vote YES for Pool Bonds:

Public Safety and Health

  •  Pools save lives and provide a variety of aquatics activities for all age groups and skill       levels 12 months a year.

Preserve Public Facilites

  •  Anchorage Pools are agin and now require large capital repairs to continue safe operations.

Matching Funds

  •  Repair costs of the 5 Anchorage pools totals nearly $4-million. Proposition 4 authorizes       bonds equal to the amount appropiated by the state to a maximum of $2 million - a one to       one match.

Value

  •  For a $300,000 home, the anual expence will be $4.29 - less than a deluxe coffe or a fast       food meal.