Frequently Asked Questions (FAQ’s)
Q. What are the two general obligation bond questions on the November 6th ballot?
A. Shall the City of Anthony issue up to $2,500,000 of general obligation bonds, to be repaid from property taxes, for the purpose of providing funds for constructing, repairing, and otherwise improving municipal alleys, streets, public roads and bridges, or any combination of the foregoing?
Shall the City of Anthony issue up to $500,000 of general obligation bonds, to be repaid from property taxes, for the purpose of providing funds for building, beautifying and improving public parks within or without the municipal boundary, but not beyond the planning and platting jurisdiction of the municipality or any combination of the foregoing?
Q. What are general obligation bonds?
A. General obligation bonds (G.O. bonds) are bonds backed by the full faith and credit of the City. They are repaid with ad valorem property taxes paid to the City. They are the highest rated form of debt which results in the lowest interest cost debt a municipality can issue.
Q. Why is the City putting the general obligation bond questions out for a vote?
A. General Obligation bond questions are required by law to be voted on by eligible voters. General obligation bonds CANNOT be implemented by the City without voter approval. Voters must approve both the amount and the purpose of the bonds.
Q. Do only property owners vote?
A. All Anthony residents who are registered voters can vote.
County registered voters, who own property in the City, can also vote on the general obligation bond questions.
Q. If the general obligation bonds pass, can the City of Anthony spend the funds on anything other than what is stated on the ballot?
A. No. General obligation bonds can only be spent on what the question states.
Q. Can general obligation bonds be used for municipal operations?
A. No. General obligation bonds can only be used for capital infrastructure improvements.
Q. How much of my property taxes does the City of Anthony currently receive?
A. The City of Anthony currently does not receive any portion of the property taxes paid by Anthony taxpayers. The entire amount is currently allocated to other governmental and educational entities which include the County, State and School District.
Q. Briefly, what will bond funding provide for the citizens of Anthony?
A. General obligation bonds fund capital improvements that directly affect the basic needs and quality of life of every Anthony resident. The proceeds from the proposed general obligation bonds will be used to fund badly needed street improvements as well as parks, recreation and open space facilities.
Q. How will the general obligation bonds affect my property taxes?
For the median property value of around $86,100, the annual tax impact would be about $87 per household, or approximately $1.67 per week.
If passed, the table below shows the annual, monthly and weekly tax impact that can be expected for taxpayers who own properties with the City:
Q. Why can’t the City of Anthony go to the state and federal government for funding?
A. The City seeks funding for projects from federal and state funding programs where available. Levels of state and federal funding have diminished substantially in recent years, and these grant funding programs increasingly require large funding matches from municipalities. Often, federal and state funding are no longer awarded as grants, but as low interest loans.
Q. Can the funds derived from the bonds that are sold be used to leverage federal, state, private or other local funds?
A. YES! G.O. bonds are often used as participating funds to obtain additional funding from all the sources mentioned above, especially for very expensive public works projects.