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CE,O|CFFS|M2016 <br />ITY OF UGENEREGON ONSERVATION INANCE EASIBILITY TUDY AY <br />“Question: (herein the question is stated) If the bonds are approved, they will be payable <br />from taxes on property or property ownership that are not subject to the limits of sections <br />11 and 11b, Article XI of the Oregon Constitution.” <br />The words of this statement do not count towards the word limits described above. <br />The ballot title statement for any measure requesting elector approval of bonds, the principal and <br />interest on which is to be payable from taxes imposed on property or property ownership that are <br />not subject to the limitations of sections 11 and 11b, Article XI of the Oregon Constitution <br />(including general obligation bonds), shall contain a reasonably detailed, simple and <br />understandable description of the use of proceeds. <br />The front of the outer envelope in which the ballot title is delivered shall state, clearly and boldly <br />58 <br />printed in red, “CONTAINS VOTE ON PROPOSED TAX INCREASE.” <br />Referred to the People by the City Council <br />26-159 Bonds to fix playgrounds, trails; improve park facilities, safety, accessibility. <br />Question: Shall Portland fix, improve park facilities by issuing bonds estimated to maintain current tax rate; <br />require audits and public oversight? If the bonds are approved, they will be payable from taxes on property or <br />property ownership that are not subject to the limits of sections 11 and 11b,Article XI of the Oregon <br />Constitution. <br />Yes <br />No <br />Bond to Acquire Open Spaces, Protect Clean Water, Improve Parklands <br />Question: Shall city issue $17 million general obligation bonds to acquire, preserve and protect open spaces, <br />water quality, habitat, and parks? <br />If the Bonds are approved, they will be payable from taxes on property or property ownership that are not <br />subject to the limits of Sections II and IIb, ArticleXI of the Oregon Constitution. <br />Summary: If approved, this measurewould authorize the City of Tigard to sell up to $17 million in bonds for <br />land acquisition, restoration, capital construction and improvements allocated as follows: <br />• 80% or more to acquire land to preserve open space, parklands, <br />and wildlife habitat, protect streams for improved local water <br />quality to benefit fish and wildlife, <br />• 20% or less to create and improve community parks, <br />recreational areas and trails, and <br />• Up to 10% of the total for downtown parkland. <br />This investment is for the benefit of current and future generations. <br />The Parks and Recreation Board would provide oversight; spending would be audited by the City’s yearly <br />audit. <br />Bonds would mature in 21 years or less from issuance and may be issued in one or more series. The <br />estimated additional annual cost to property owners would be $0.29 per $1,000 of assessed valuation. <br />For a home with the median assessed value of $207,000, the City estimates that the additional monthly cost <br />would be about $4.99 per month, or $60 per year. <br />58 <br />Oregon Revised Statutes §250.037 <br />TTPL::CFD33 <br />HE RUST FOR UBLIC AND ONSERVATION INANCE EPARTMENT <br /> <br />