Prop. 445 - Street Repair/Improvements
WHAT IS PROPOSITION 445? - Prop. 445 asks Clarkdale voters to decide if the Town of Clarkdale should incur a maximum of $6,000,000 in debt through the issuance and sale of bonds to provide funds for street repair and improvements and the ongoing preservation of streets within the Town limits.
HOW WAS THE $6,000,000 DETERMINED? - In 2017, the Town of Clarkdale hired a consulting engineer to evaluate the condition of the public roads in Clarkdale and make recommendations about repairing and improving the roads. The estimated costs to repair and improve roads in Clarkdale ranged from $5.3 - $14.7 million, and varied depending on the construction methods selected for repairs and improvements. The Town staff, Citizens Committee and Town Council reviewed the recommendations of the consulting engineer, and selected a repair and improvement strategy that resulted in a $6,000,000 project budget.
WHICH ROADS WILL BE IMPROVED AS PART OF THIS PROGRAM? - If voters approve the bond, all the roads and streets shown in yellow and green on this map will be repaired over a period of three years, beginning in 2019.
HOW WILL THE BONDS BE PAID BACK? - With voter approval, the debt would be issued as General Obligation Bonds of the Town, and would be paid back through a secondary (ad valorem) property tax which would be levied upon all of the taxable property in the Town.
HOW WOULD PROPERTY TAX BILLS BE IMPACTED? - If voters approve the issuance of these bonds, it will result in a property tax increase sufficient to pay the annual debt service on the bonds. The impact to an individual property would be dependent on the Assessor's value for tax purposes of the property in question. By August 1st, the Town will have estimates available that show the property tax impact based on example property values.
HOW LONG WILL IT TAKE TO PAY BACK THE BONDS? - The bonds will have a 10-year maturity. After that time, they will be paid in full and the Secondary Property Tax will expire.