Remember to Vote on Saturday, April 9
The ballot includes a Public Safety Millage and well as a Bond Issue for Infrastructure. The two measures are spelled out below:
MILLAGE PROPOSITION FOR FIRE AND POLICE
Shall the New Orleans City Council be authorized to annually levy an increase in ad valorem taxes of a total of seven and one-half (7.5) mills as follows:
(1) dedicated solely for recruiting, hiring, equipping, and paying police officers for increased police protection, in the amount of and not exceeding five (5) mills on the dollar of assessed real property valuation throughout the city and (2) dedicated solely for fire protection in the amount of and not exceeding two and one-half (2.5) mills on the dollar of assessed real property valuation throughout the city, for twelve (12) years, beginning January 1, 2017 and ending December 31, 2028, (an estimated $17.73 million reasonably expected to be collected at this time for an entire year as a result of the 5 mills increase for police protection and an estimated $8.87 million reasonably expected to be collected at this time for an entire year as a result of the 2.5 mills increase for fire protection), in accordance with Article VI, Section 26(E) of the Louisiana Constitution?
BOND ISSUE FOR INFRASTRUCTURE AND FIRE TRUCKS
Shall the City of New Orleans, Louisiana (the “City”), incur debt and issue up to $120,000,000 of bonds, in one or more series, to run not exceeding thirty (30) years from the date thereof, with interest at a rate not exceeding eight percent (8.00%) per annum, for the purpose of making capital improvements, including constructing, renovating, acquiring and/or improving (i) $100,000,000 for roads, streets and bridges, base stabilization, drainage adjustments and related sidewalks, curbing, street lighting, stormwater management, and landscaping associated therewith; (ii) $15,000,000 for public buildings and facilities and parks and recreational facilities, and (iii) $5,000,000 for fire trucks and firefighting equipment, including acquiring all necessary land, equipment and furnishings for any of the foregoing, which bonds will be general obligations of the City and will be payable from ad valorem taxes to be levied and collected in the manner provided by Article VI, Section 33 of the Constitution of the State of Louisiana of 1974 and statutory authority supplemental thereto, with no estimated increase in the millage rate to be levied in the first year above the 25.5 mills currently being levied to pay General Obligation Bonds of the City?