APRIL 2, 2002 FACT SHEET - GENERAL OBLIGATION BONDS

 PROPOSITION
B

AREAWIDE BOND PROPOSITION

 BOND AMOUNT:
$3,490,000

 ADDITIONAL
INFORMATION
CONTACTS

John Fullenwider, Chief
Anchorage Fire Department
267-4934

Michael Callahan, Director,
Information Technology
343-6887

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.
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MOBILE INTENSIVE CARE UNITS (ambulances) provide basic and advanced life support to residents of the Municipality of Anchorage.

Programmed replacement and/or refurbishing of ambulances allows the Municipality to provide a fleet of reliable vehicles equipped to meet the emergency medical care needs of all residents, wherever and whenever the need arises.     

EMERGENCY OPERATIONS CENTER UPGRADE
The project includes the design, purchase, installation, staffing and training necessary to implement: 1) a "311" Call Center for non-emergency municipal services, and 2) an upgrade to the Anchorage Fire Department Alternate Dispatch Center which provides backup capability to the current AFD Dispatch Center.  

Both components would be physically located at the existing Emergency Operations Center, 1311 E Street near downtown Anchorage.

OLD PUBLIC SAFETY BUILDINGS SITE RESTORATION -This project would fund demolition of the structures which will be vacated in 2002 on the block bordered by Sixth and Seventh Avenues and C Street.  The site will be restored and prepared to accommodate the planned expansion of the Anchorage Museum of History and Art.

 WHAT IT COSTS

OPERATING COSTS
Additional annual operations and maintenance costs: $417,700.
The Municipal tax cap will be increased to fund additional operations and maintenance costs.

DEBT SERVICE
Estimated annual debt service*: $462,000
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., 5 and 20 years)
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HOW THE BONDS ARE PAID

The bonds will be paid through taxes levied Areawide.

Estimated Property Tax:  .0274 mills or $2.74 annually per $100,000 assessed valution to retire the bond debt; .0248 mills or $2.48 annually per $100,000 assessed valuation for operations and maintenance costs; for a total of .0522 mills or $5.22 annually per $100,000 assessed valuation.   Taxes are levied Areawide.

* repayment of principal and interest

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