Mayor, City Council, City Auditor Propose 2013 Voted Bond Package
MEDIA RELEASE
For Immediate Release
June 19, 2013
For More Information:
John Ivanic, City Council, 645-6798
Tyneisha Harden, Mayor’s Office, 645-2425
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Mayor, City Council, City Auditor Propose 2013 Voted Bond
Package
Mayor Michael B. Coleman, City Councilmembers and City
Auditor Hugh J. Dorrian today proposed an $842 million voted bond package to be
placed on the November 5th ballot. With voter approval, the four bond package
issues will drive new investment into neighborhoods and strengthen the local
economy without raising taxes.
“Columbus is being recognized as one of the best cities in
the nation because we’ve continued to invest in our infrastructure and our
quality of life,” Mayor Coleman said. “If voters support our bond package this
November as they have in the past, we’ll be able to maximize our capital
dollars and maintain our momentum.”
The four issues that will appear on the ballot are:
- Safety and
Health ($53 million) for police and fire facilities, vehicles and equipment;
- Recreation
and Parks ($124 million) for rec centers, bike paths, pools, parks, playgrounds
and equipment;
- Public
Service ($220 million) for resurfacing, sidewalks, roadways, bikeways, refuse
vehicles and containers, street equipment and other neighborhood improvements;
- Public
Utilities ($445 million) for water system improvements, stormwater improvements
and street lighting.
Mayor Coleman, City Council and Auditor Dorrian finalized
the proposed bond package after city leaders met earlier this month with
residents in four community meetings, each held in a different area of the
city.
“The community input we received during the series of
meetings helped shape the projects that will have a positive, lasting impact in
Columbus neighborhoods,” said Council President Andrew J. Ginther. “I want to
thank everyone who participated and remind residents that all of these
improvements will be accomplished without raising taxes.”
Columbus is the only city of its size in the nation with a
AAA credit rating from all three national rating agencies. This means that
Columbus debt is some of the most secure debt in the nation, and therefore
fares well competitively in the financial markets. Investors purchasing city bonds
have more confidence that they will be repaid if voters have approved the debt
issuance, and generally demand a lower interest rate. Cheaper debt allows the
city to save millions, resulting in more capital improvements in Columbus
neighborhoods.
“Columbus voters have demonstrated their keen understanding
of the financial savings in granting their approval to the city's bond package
requests,” Auditor Dorrian said. “Columbus voters have approved every bond
package the city has put before them for nearly three decades now and continue
to benefit from their prudent approvals. I encourage our Columbus voters to
join us, once again, in giving the city the tools to meet its infrastructure
needs in a cost efficient manner.”
Columbus has emerged in recent years as one of the best
cities in the nation to work and to live in part because it has continued to
invest in capital projects like roads, parks, sidewalks and bikeways. Columbus
was able to do so during the recent recession in part because of the five-year
bond package approved by voters in 2008.
Photo: Council President Ginther joined Mayor Coleman,
Auditor Dorrian, and members of Columbus City Council at Maloney Park to
announce the proposed bond package.
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