APRIL 2, 2002 FACT SHEET - GENERAL OBLIGATION BONDS

 PROPOSITION 
E

LORE ROAD BALL FIELDS
ANCHORAGE PARKS & RECREATION SERVICE AREA

 BOND AMOUNT:
$1,600,000

 ADDITIONAL
INFORMATION
CONTACTS

James Posey, Director
Cultural & Recreational Services
343-4365

John Rodda, Manager
Parks & Beautification
343-4562

Tim Rogers,
Capital Budget Officer
343-4467

It is the expectation of the Municipality of Anchorage that the general obligation bonds proposed for April 2, 2002 will be used to make capital improvements to facilities in each service area noted.  Projects listed below describe how we expect to use the bond proceeds.  However, as project development progresses, changes in scope, project feasibility, phasing, timeline, or estimated costs may occur that result in acceleration, delay, or substitution of projects.

______________________

REPLACEMENT FOR SIMONIAN
LITTLE LEAGUE FIELDS

Project includes acquisition of land to be developed as ball fields in the Lore Road area.

WHAT IT COSTS

OPERATING COSTS
Additional annual operations and maintenance costs: $15,000.
The Municipal tax cap will be increased to fund these additional operations and maintenance costs.

DEBT SERVICE
Estimated annual debt service*: $136,600.
Basis for estimate:  Assumes bonds are sold as a package @ 5.75% interest, with bond repayment term corresponding to the expected life of the assets financed, i.e., 20 years)

HOW THE BONDS ARE PAID

The bonds will be paid through taxes levied in the Anchorage Parks & Recreation Service Area.

Estimated Property Tax:  .0093 mills or $0.93 annually per $100,000 assessed valution to retire the bond debt; .0010 mills or $0.10 annually per $100,000 assessed valuation for operations and maintenance costs; for a TOTAL of .0103 mills or $1.03 annually per $100,000 assessed valuation.   

* repayment of principal and interest

 George Wuerch, Mayor
February 2002 
This fact sheet is prepared, paid for and distributed by the Municipality of Anchorage.