ANCHORAGE FIRE SERVICE AREA
FIRE PROTECTION BONDS

For the purpose of providing fire protection capital improvements in the Anchorage Fire Service Area, shall Anchorage borrow money and issue up to $3,622,000 in principal amount of general obligation bonds and increase the municipal tax cap by an annual amount not to exceed $1,015,025 to pay the associated annual operations and maintenance costs?
Voter approval of this bond proposition authorizes for each $100,000 of assessed taxable property value (based on the estimated 2008 assessed valuation in the Anchorage Fire Service Area): (i) an annual increase in taxes of approximately $0.99 to retire the proposed bonds, and (ii) an annual increase in the Municipal Tax Cap (Charter 14.03(b)(2)) of approximately $3.47 to pay for annual operations and maintenance costs related to the proposed capital improvements.

The debt shall be paid from real and personal property taxes levied and collected area-wide within the Anchorage Fire Service Area. Anchorage will also pledge its full faith and credit for payment of the bonds.

To be voted upon by all voters residing within the Anchorage Fire Service Area and within the Municipality of Anchorage.