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PUBLICITY PAMPHLETS. Bond Elections. PUBLICITY PAMPHLETS – Bond Elections. Four principal types of bonds: General obligation bonds *** Revenue bonds Street and highway improvement bonds Special improvement district bonds
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PUBLICITY PAMPHLETS Bond Elections
PUBLICITY PAMPHLETS – Bond Elections • Four principal types of bonds: • General obligation bonds *** • Revenue bonds • Street and highway improvement bonds • Special improvement district bonds ***This is the type of bond election Clarkdale held (for street improvements) – so emphasis for this discussion will be placed on this type
PUBLICITY PAMPHLETS – Bond Elections • Your bond counsel is invaluable in this process and should be consulted before going forward with a bond election • Your bond counsel will provide you with the exact legal language that will be used in your resolution, proposition, and publicity pamphlet • Your bond counsel will also provide the schedules of costs to the taxpayer • You should double check counsel’s language against the statutory requirements to see if there’s additional or modified language you want to include A.R.S. § 35-454
PUBLICITY PAMPHLETS – Bond Elections • General Obligation Bonds – two types: • General Purpose – may not exceed 6% of assessed valuation of taxable property of the municipality • Public Utility and Open Space – Bonds may be issued for an additional 20% of assessed valuation for municipal supply of water, light or sewers (up to 26% indebtedness)
PUBLICITY PAMPHLETS – Bond Elections • County usually provides the Proposition number • Hire an Election Services vendor to print your publicity pamphlet – sometimes they also provide translation services
PUBLICITY PAMPHLETS – Bond Elections • Council sets deadline to submit arguments for or against bond proposition • Once arguments have been submitted they cannot be changed for grammar, spelling or simply wrong information! • Arguments should be submitted in Word format both in hard copy and electronically
PUBLICITY PAMPHLETS – Bond Elections • Publicity pamphlets should be mailed to every household within the political division that contains a registered voter within 35 days before the bond election. (Our printer provided this service.) • Submit copies of the publicity pamphlet to the Department of Revenue within 30 days after the bond election.
PUBLICITY PAMPHLETS – Bond Elections • FIRST PAGE – Cover Page stating type of Bond Election, i.e., “Bond Authorization Special Election” • Date of Election • Compiled and issued by City/Town Council of the City/Town of Your Town • Spanish version of above information
PUBLICITY PAMPHLET – Bond Elections • Inside Cover – Introduction and message from the Clerk providing election date(s) and question for the voters. • Provides contact information for the Clerk
PUBLICITY PAMPHLETS • Q and A about the proposed bonds (provided by bond counsel) • Estimated average annual bond tax rate per $100 of assessed valuation (for property tax increase) – provided by bond counsel
PUBLICITY PAMPHLETS • Information about General Obligation bonds • Estimated Debt Service Requirements and Projected Impact on a Secondary Tax Rate (bond counsel)
PUBLICITY PAMPHLETS • SAMPLE BALLOT QUESTION(S) • PROPOSITION QUESTION AND EXPLANATION/SUMMARY • ARGUMENTS: • FOR THE BOND • AGAINST THE BOND
PUBLICITY PAMPHLETS • Voting information including: • Dates and deadlines for early voting, mailing ballots, using assistance • Official Ballot Drop Boxes • Required ID
PUBLICITY PAMPHLETS • Contact information for elections and voter registration • Vote center locations • Spanish Translation Follows • Our pamphlet was 32 pages total