S1 E3: Nampa's General Obligation Transportation Bond
We sit down with Director of Strategic Initiatives, Mark Steuer, to discuss the General Obligation Transportation Bond before Nampa voters on May 21, 2024.Improving movement in and through Nampa is one of the top community-identified priorities shared in our annual survey. If approved by voters, the $38 million General Obligation Transportation Bond is not estimated to raise current funds collected by Nampa taxpayers, but be similar to the fees paid by the expiring general obligation bond. The bond is for the purposes of increasing public safety by funding improvements to certain roadways and pedestrian corridors within the City of Nampa.The following high-need projects have been identified for funding should the bond be approved by voters. These projects, which will reduce travel times and congestion, are a mix of construction and design.Treasure Valley Marketplace & Midland Intersection ImprovementsLibrary Square Congestion Improvements12th Ave to 11th Ave Crossover CorridorSouth-East Nampa Connection to SH-16 (Design)Safe Routes to School (Sidewalk Improvements):Lone Star Middle SchoolEndeavor ElementaryBirch ElementaryRoosevelt ElementarySkyview High SchoolEast Valley Middle SchoolVisit www.cityofnampa.us/nampbond to learn more. Nampa residents inside city limits will cast their vote on the May 21, 2024 ballot.Pursuant to an ordinance adopted on February 5, 2024, by the City Council of the City of Nampa, Canyon County, Idaho (the “City”), there will be a special municipal bond election held between the hours of 8:00 a.m. and 8:00 p.m. on May 21, 2024, in the City regarding the City’s proposed issuance of general obligation transportation bonds in an amount not to exceed $38,000,000 for the purposes of increasing public safety by funding improvements to certain roadways and pedestrian corridors within the City. The interest rate anticipated on the proposed bonds based on current market rates is 3.59% per annum. The total amount to be repaid over the life of the proposed bonds, principal, and interest, based on the anticipated interest rate, is estimated to be $53,910,817, consisting of $38,000,000 in principal and $15,910,810 in interest. The estimated average annual cost to the taxpayer of the proposed bonds is a tax of $18.00 per $100,000 of taxable assessed value, per year, based on current conditions. The proposed bonds will mature within twenty (20) years from the date of each series of bonds. The total existing indebtedness of the City, including interest accrued as of May 21, 2024, is $155,840,619.For more information, visit our website at cityofnampa.us Hosted on Acast. See acast.com/privacy for more information.
