A transportation bond question will be put before Mat-Su Borough voters on the Oct. 2, 2018, election ballot.
The proposition asks whether to issue areawide general obligation bonds of the Borough for up to $23,845,000, which is half the cost of the projects. Matching funds for the other half must be found from another source, before general obligation debt may be issued for any projects, the legislation states.
Annual cost to taxpayers per $100,000 in property value is $19.50.
"WHEREAS, if approved by the voters, the Borough will issue its general obligation debt sufficient to cover fifty percent (50%) of the costs of the Projects; and
WHEREAS, before general obligation debt may be issued for any Project(s), fifty percent (50%) matching funds must be obtained from other sources."
Here is a list of the roads. A list with specifics is in the legislation attached here and adopted on July 31.
1) Hemmer Road to Bogard Road
2) Hermon Road, Parks Highway to Palmer-Wasilla Highway
3) School District pedestrian safe routes to schools plan
4) Aspen Ridge Road Extension to Palmer-Fishhook Road
5) Cheri Lake Drive to King Arthur Drive corridor
6) Trunk Road Extension South Phase II/III
7) Tex-Al Drive extension
8) Seldon Road Extension, phase II, Beverly Lakes Road to Pittman Road
9) Trunk Road connector at Katherine Drive
10) Smith Road extension and paved pathway
The legislation further states, "WHEREAS, the proceeds of such bonds will be used to build the key elements of the Borough's transportation system to serve the needs of our growing community ...".
Here is how the question reads:
FIFTY PERCENT MATCH BOROUGH TRANSPORTATION SYSTEMS BONDS
Shall the Matanuska-Susitna Borough engage in the construction, additions, improvements, betterments, repair, reconstruction, and acquisition of public roads and facilities related thereto in the Matanuska-Susitna Borough of the following Projects, together with all necessary equipment and transportation facilities, and the acquisition of lands or rights in lands in connection therewith and issue its areawide general obligation bonds, in an amount not to exceed the sum of Twenty-three Million Eight Hundred Forty-Five Thousand Dollars ($23,845,000)for the purpose of financing the cost, in whole or in part, of the following Projects, in accordance with and ratifying and approving the provisions of Ordinance Serial No. 18-078 of the Matanuska-Susitna Borough adopted by the Borough Assembly on July 31, 2018.
The legislation is attached so you can read specifics on the projects.
Aerial image of Trunk Road South by Stefan Hinman, Mat-Su Public Affairs.