Official Web Site of the City of Phoenix

2006 Bond Program

The 2006 Bond Program will bring a comprehensive plan to improve the quality of life and economic vitality of Phoenix. It is about investing in our community.

The 2006 Bond Program, like the previous city bond program, will not raise your property tax rate. The city borrows money, much like you would for big purchases such as a home or a car, and repays it over the years. The city's $1.82 property tax will be used to repay the bonds. Also because the city's financial reputation is excellent, it can borrow money at a lower interest rate.

Many city amenities you currently enjoy were built with bonds, such as the newly renovated Symphony Hall, Burton Barr Central Library, the South Mountain Environmental Education Center, the Phoenix Art Museum, police and fire stations, public housing, branch libraries, and senior centers. Bond funds also have been used to help revitalize neighborhoods, preserve historic buildings, improve streets, increase arts and cultural opportunities, and develop a state-of-the-art radio system so police officers and firefighters can communicate more effectively.

The 2006 Citizens’ Bond Committee, made up of over 700 residents, organized around 17 subcommittees, was charged with sizing the overall bond program, establishing annual operating and maintenance costs and reviewing and recommending the specific projects to be presented to the voters on March 14, 2006. The voters approved the $878.5 million program presented to them.

Now that the overall program has been approved by the voters, each of the projects must be constructed over the next five years and each year’s assessed valuation and property tax levy must be analyzed to make sure the program remains financially sound. Careful project scheduling is critical to the program remaining fiscally viable and on schedule.

Last Modified on 11/06/2008 09:42:24