The City of Phoenix has begun preparations to put a $500M bond request before voters next year. It will be the first bond measure sought by the City since voters approved an $878.5M request in 2006.
Phoenix City Council voted last week to create a General Obligation Bond Committee comprised of more than 75 community leaders to establish a project list to put before voters.
Likely project target areas include economic development, streets, public safety, housing, parks and recreation, and arts and culture. Full details are expected later this year.
The measure will likely not require a tax increase. If the bond is approved, the City will incur debt against a structure future repayment plan.
Some officials expressed hopes Phoenix will undertake bond programs more frequently in the future. According to City finance officials, a $500M bond program every five years could likely be undertaken for 20 years without raising taxes. (Source)