Item C: General Obligation Bonds for Street Maintenance

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street preservation project list, and would note any differences between the Committee recommendations and previous proposed project lists. The Committee would also advise the City Manager about supplementing the project list if unanticipated pavement conditions or funding oppor- tunities arise. The City Manager would consult with the Committee prior to modifying the initial street preservation project list. There would also be a regular review by an outside auditor for the purpose of issuing a report on the use of the bond proceeds. The auditor procedures would ascertain that the bond proceeds were used for the purposes, and in compliance with the restrictions, set forth in the ballot language. The auditor would furnish a written report to the City Manager, who would provide the report to council as well as to the Committee. The report would also be made publicly available. Timing Council’s last opportunity to pass a resolution placing the measure on the ballot prior to going on break would be August 6. July 28 is the tentatively scheduled date for council consideration of this resolution, which would require that Council provide final direction for changes to the resolution no later than June 30 in order to allow for adequate bond counsel review and approval of those changes. A draft of the resolution is included as Attachment E. Once council passes a resolution placing the measure on the ballot, the City Attorney will create a ballot title (caption, question and summary), which will be published in the Register-Guard. Citizens will have an opportunity to challenge the ballot language by filing a petition with the Lane County Circuit Court within seven business days of the date that the City Attorney files the ballot title with the City Recorder. RELATED CITY POLICIES Council’s goals for 2007 include “Transportation Initiative: Develop mechanisms to adequately fund our transportation system for cars, trucks, bikes and pedestrians including maintenance and preservation and capital reconstruction.” COUNCIL OPTIONS The three policy issues before council at this work session are: ? Project List: An initial street preservation project list to be included in the measure is provided as Attachment C. This list will be refined to consolidate street segments needing repairs into logical engineering projects, as previously described. The council could modify the project list as deemed appropriate. ? Project Implementation: Staff recommends a Street Preservation Advisory Committee be formed to advise the Public Works Department on the GO Bond project list to be funded in the capital budget each year. The council could modify the method of building project flexibility into implementation of the bond measure. ? Measure Size: The council conceptually approved $6.5 million of annual spending, adjusted in subsequent years for inflation plus bond issuance costs, for a total measure of $81.1 million. The council could choose a different amount for the bond measure. Attachment F includes the effect on taxpayers for different bond amounts.