APRIL 2, 2002 FACT SHEET - GENERAL OBLIGATION BONDS
PROPOSITION # 3	ANCHORAGE ROADS & DRAINAGE SERVICE AREA	BOND AMOUNT: $34,730,000
Passage of this bond proposition would provide funds to finance improvements to the road and drainage system to reduce future operations and maintenance costs and improve safety within the service area.
ADDITIONAL INFORMATION CONTACTS Howard Holtan, Municipal Engineer 343-8109 Tim Rogers, Capital Budget Officer 343-4467 _________________ HOW THE BONDS ARE PAID The bonds will be paid through taxes levied in the Anchorage Roads and Drainage Service Area. Estimated Property Tax: .2358 mills or $23.58 annually per $100,000 assessed valution to retire the bond debt; .0054 mills or $0.54 annually per $100,000 assessed valuation for operations and maintenance costs; for a total of .2412 mills or $24.12 annually per $100,000 assessed valuation.	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. _____________________________________________________________ 36TH AVE STORM RECONSTRUCTION - EAST OF C ST – construction 40TH AVE ACCESS IMPROVEMENTS - DENALI ST TO LOUSSAC LIBRARY PARKING LOT – construction 40TH AVE EXTENSION - EUREKA DR TO B ST – construction 84TH AVE UPGRADE - LAKE OTIS PKWY TO RAINTREE CIR - design study ABBOTT LOOP RD AT 72ND AVE STORM DRAIN – design and construction ADA PEDESTRIAN FACILITY UPGRADES – design and construction AERO DR/W 40TH AVE EXTENSION-36TH AVE TO LAKE HOOD ELEMENTARY SCHOOL - design ANCHORAGE SIGNAL SYSTEM, SIGNAGE, AND SAFETY IMPROVEMENTS – design and construction ARCTIC BLVD SURFACE REHAB - FIREWEED LN TO TUDOR RD – design ARDSA ROAD AND DRAINAGE SYSTEM REHABILITATION – construction ARDSA STREET LIGHT IMPROVEMENTS – design and construction BRAGAW ST SURFACE REHAB - GLENN HWY TO DEBARR RD – design BRIDLE LN/HORIZON AVE AREA STORM RECONSTRUCTION – design CHESTER CREEK AT C ST STORM OUTFALL IMPROVEMENTS – construction DENALI ST RECONSTRUCTION - FIREWEED LN TO 40TH AVE – construction DOWNTOWN AREA STORM OUTFALL RECONSTRUCTION – construction (project list continues)	WHAT IT COSTS OPERATING COSTS Additional annual operations and maintenance costs: $73,100. The Municipal tax cap will be increased to fund additional operations and maintenance costs. DEBT SERVICE Estimated annual debt service: $3,170,600 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., 7 or 20 years) _________________ repayment of principal and interest
ELECTRICAL LOAD CENTER UPGRADES – design and construction FISH CREEK AT WILLOW ST WATER QUALITY ENHANCEMENT POND – acquisition FOXHALL SUBDIVISION AREA STORM RECONSTRUCTION – design HEAVY EQUIPMENT FOR ROAD AND DRAINAGE INDEPENDENCE DR UPGRADE REIMBURSEMENT - COLONY LOOP TO O'MALLEY RD – construction INTERSECTION SAFETY IMPROVEMENTS – design and construction KLOEP MAINTENANCE STATION OPERATIONS BLDG – design and utility extension KLOEP MAINTENANCE STATION WATER QUALITY AND FACILITY IMPROVEMENTS – construction LAKE OTIS PKWY/15TH AVE PEDESTRIAN IMPROVEMENTS - SITKA ST TO 24TH AVE - easement acquisition and utility relocation LOCAL ROAD RID RECONSTRUCTION PROJECTS - design and construction MACINNES ST UPGRADE - 36TH AVE TO TUDOR RD – construction MAJOR PAVEMENT REPAIR GRANT MATCH – match $4 million 2001 State grant MISCELLANEOUS SIDEWALK CONNECTIONS AND REHAB – design and construction MISCELLANEOUS SMALL DRAINAGE PROJECTS – design and construction MULDOON TOWN CENTER ROW ACQUISITION- right-of-way acquisition for interior roadways MUNICIPAL CONTRIBUTION TO TEA21 PROGRAM NORTHERN LIGHTS BLVD UPGRADE PHASE III -NATHANIEL CT TO WISCONSIN ST – design NORTHWOOD DR EXTENSION - 88TH AVE TO DIMOND BLVD – design NORTHWOOD DR UPGRADE - SPENARD RD TO INTERNATIONAL AIRPORT RD - design PATTERSON ST UPGRADE - NORTHERN LIGHTS BLVD TO TUDOR RD - construction PAVEMENT REHABILITATION - design and construction PINE ST EXTENSION - DEBARR RD TO REKA DR – right of way and utility relocation RASPBERRY RD EXTENSION-ROVENNA ST TO ARCTIC BLVD – design RECYCLED ASPHALT PAVEMENT (RAP) UPGRADES - design and construction SCENIC PARK DRAINAGE IMPROVEMENTS – design and construction SOUTHPORT BLVD UPGRADE - ENSIGN DR TO SPYGLASS CIR – design study SPRUCE ST UPGRADE - 76TH AVE TO 84TH AVE – design study STRAWBERRY RD UPGRADE - JEWEL LAKE RD TO NORTHWOOD DR – construction TIMBERLANE DR RECONSTRUCTION - NEW KLATT RD TO HUFFMAN RD - easement acquisition and utility relocation TRAFFIC CALMING AND SAFETY IMPROVEMENTS – design and construction TURPIN RD UPGRADE - GLENN HWY TO DEBARR RD - easement acquisition and utility relocation UAA DR PEDESTRIAN IMPROVEMENTS – NORTHERN LIGHTS BLVD TO PROVIDENCE DR – construction VAN BUREN ST/HARDING DR EXTENSION – design and construction WATER QUALITY UPGRADE ON STORM DRAIN OUTFALLS – design and construction WISCONSIN ST RECONSTRUCTION - LAKE PARK CIR TO SPENARD RD – construction
George Wuerch, Mayor February 2002 This fact sheet is prepared, paid for and distributed by the Municipality of Anchorage.