Glendale’s Community Newspaper
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Vol. 75 No. 5
INSIDE
This Week
Council approves sale of $15.8M in bonds BY DARRELL JACKSON Glendale Star Staff Writer
FEATURES .... 10 ASU West seeks mentors to share expertise.
ARTS ............. 20
Chocolate Affaire sweetens up downtown.
OPINION.................... 8 FEATURES .............. 10 SPORTS ................... 14 RELIGION ................ 16 ARTS & ENTERTAINMENT ................................... 18
BUSINESS .............. 22 CLASSIFIEDS ......... 24
January 31, 2019
Councilmembers unanimously approved the sale of more than $15 million in general obligation bonds for street improvements and other items during their January 23 meeting. “There are quite a few projects used for this $15.8 million, with the largest amounts, almost $9.4 million, for street reconstruction projects,” said Vicki Rios, budget and finance director. “We also have around $4.7 million for regional wireless projects and smaller projects.” General obligation bonds are issued by states and local governments to raise funds
for public works. These bonds are backed by the full faith and credit of the issuing municipality. Revenue bonds are repaid using the revenue generated by the specific project the bonds are issued to fund. General obligation bonds are repaid through property taxes, which councilmembers have pledged not to raise. “We use property taxes to repay GO bonds and council has given direction not to raise the property tax levy,” Rios said. Vice Mayor Joyce Clark asked if approving the bonds would limit the city for future bonds. “Does this leave any available bond capacity for the upcoming budget year
Chamber gives update on manager
should council want to approve a project within a certain category?” Clark asked. Rios said, “There is remaining authority in most bond-authorized categories and the issuance of bonds is based on affordability. Council has given direction not to raise property tax levy and we plan so we don’t have to raise the property tax rate.” Glendale has six series of outstanding GO bonds, totaling $146,985,000, which financed various voter-approved projects. The proceeds from the bond sale will be used to pay all or a portion of the costs, including necessary legal, financial, architectural, engineering and contingent costs in connection with the bond issuance.
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BY DARRELL JACKSON Glendale Star Staff Writer
The Glendale City Council was updated on the successes of the downtown manager’s first year by Chamber President and CEO Robert Heidt. Katy Engels’ official title is director of downtown development, but it is more casually referred to as downtown manager. “First-year deliverables was the introduction of (Engels) and boots on the ground with the property owners and stakeholders in downtown,” Heidt said. “We also generated data to improve communiSEE MANAGER PAGE 3
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