Berkeley, California, Bond Issue, Measure T1 (November 2016)
| Measure T1: Berkeley Bond Issue |
|---|
|
| The basics |
| Election date: |
| November 8, 2016 |
| Status: |
Majority required: 66.67% |
| Topic: |
| City bonds |
| Related articles |
| City bonds on the ballot November 8, 2016 ballot measures in California Alameda County, California ballot measures |
| See also |
| Berkeley, California |
A bond issue measure was on the ballot for Berkeley voters in Alameda County, California, on November 8, 2016. It was approved.
| A yes vote was a vote in favor of issuing $100,000,000 in bonds for infrastructure maintenance. |
| A no vote was a vote against issuing $100,000,000 in bonds for infrastructure maintenance. |
A two-thirds (66.67%) vote was required for the approval of this measure.
Election results
| Measure T1 | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
| 50,413 | 86.6% | |||
| No | 7,800 | 13.4% | ||
- Election results from Alameda County Registrar of Voters
Text of measure
Ballot question
The following question appeared on the ballot:[1]
| “ |
Shall the City of Berkeley issue general obligation bonds not exceeding $100,000,000 to repair, renovate, replace, or reconstruct the City’s aging infrastructure and facilities, including sidewalks, storm drains, parks, streets, senior and recreation centers, and other important City facilities and buildings? Financial Implications: The average annual cost over the 40-year period the bonds are outstanding would be approximately $21, $90, and $128, respectively, for homes with assessed valuations of $100,000, $425,000 and $600,000.[2] |
” |
Impartial analysis
The following impartial analysis of the measure was prepared by the office of the Berkeley City Attorney:
| “ |
This measure was placed on the ballot by the City Council. This measure would authorize the issuance of $100 million of general obligation bonds. Bond proceeds would be used to repair, renovate, replace, or reconstruct existing City infrastructure and facilities, such as streets and sidewalks, storm drains and green infrastructure projects, senior centers, parks and recreation centers and other important public buildings and facilities. One percent (1%) of the bond proceeds would be available for functional art integrated into infrastructure and/or facilities that are paid for by bond proceeds, as and to the extent determined by the City Council. This measure requires subcommittees of the Public Works Commission and the Parks and Waterfront Commission to engage in a robust public process to receive public input, and to jointly report to the City Council on an annual basis regarding projects funded by the bond and bond expenditures. It also requires the City Manager, as part of the annual budget process to provide the City Council with a comprehensive report of how bond proceeds have been expended in an equitable manner throughout the City, listing all specific projects on which they have been expended. This measure limits the maximum rate of interest to be paid on the bonds to six percent (6%). Financial Implications The year after the first series of bonds are issued, the tax rate required to meet the estimated debt service would be $6.35 per $100,000 of assessed valuation. The tax rate will increase as additional series of bonds are issued and is anticipated to require $31.26 per $100,000 of assessed value at the highest point. The average tax rate is projected to be $21.27. The average annual cost over the 40-year period the bonds are outstanding would be approximately $21.27, $90.39, and $127.61, respectively, for homes with assessed valuations of $100,000, $425,000 and $600,000. The estimated annual tax for a home with an assessed valuation of $425,000 would be $27.01 the first year after bonds.[2] |
” |
| —Berkeley City Attorney[3] | ||
Full text
The full text of the measure is available here.
Path to the ballot
This measure was put on the ballot through a vote of the governing officials of Berkeley, California.
Recent news
The link below is to the most recent stories in a Google news search for the terms Berkeley City bonds. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
See also
External links
Footnotes
- ↑ Alameda County, "November 8, 2016 General Election Local Measures," accessed October 12, 2016
- ↑ 2.0 2.1 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ Alameda County, "Bond Measure T1," accessed October 28, 2016
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