Bond Election2017 General Obligation Bond Election

 

On August 15, 2017, the Murphy City Council approved Ordinance No. 17-08-1052, ordering a bond election to be held in the City of Murphy on November 7, 2017.  Citizens of Murphy will be asked to vote on the issuance of $22,960,000 in new General Obligation (G.O.) bonds.  The City seeks authorization to issue bonds in the amounts and for the purposes identified below:  

Proposition A:  The Issuance of $15,510,000 General Obligation Bonds for Street Improvements.

Proposition B:  The Issuance of $1,735,000 General Obligation Bonds for Public Safety Facilities.

Proposition C:  The Issuance of $1,315,000 General Obligation Bonds for Improvements to Existing Municipal Buildings.

Proposition D:  The Issuance of $4,400,000 General Obligation Bonds for Park and Recreational Facilities.

Background:
 


On November 15, 2016 the Murphy City Council appointed seven citizens to serve on a Capital Projects Advisory Committee (CPAC), the first such committee in ten years. The members of CPAC were tasked to review capital needs within the City and provide City Council with a recommended list of prioritized projects. Over the course of eight months, CPAC conducted 13 meetings, 3 work sessions, and 2 public town hall meetings to obtain citizen input, prioritize projects, and develop proposed funding strategies. The Committee’s work culminated with a final report to City Council on June 21, 2017. 

Subsequent to the receipt of the final report, City Council met several times to review city needs and develop a list of ballot propositions.  In its deliberations, City Council modified the recommended project lists and directed staff to take the following actions: 1) proceed with the process necessary to call a $22,960,000 GO bond election for November 7, 2017; 2) prepare an ordinance authorizing the issuance of $5,545,000 in Certificates of Obligation for Utility related projects; and 3) prepare an ordinance authorizing the issuance of $3,510,000 in Tax Notes for improvements to existing municipal buildings.  The November 7, 2017 election concerns the issuance of General Obligation bonds only.  The issuance of Certificates of Obligation and Tax Notes will be acted upon by City Council at a later date.

Information is available elsewhere on the city web site that provides a list of anticipated capital projects that will be funded through General Obligation bonds.  All amounts and anticipated uses of bond funds are preliminary and subject to change.  Actual use of any approved bonds will be determined by action of the Murphy City Council.

  

​Power Point Presentations for all CPAC Meetings.


 
 

First Town Hall Meeting

Saturday, October 7, 2017

Doors open at 8:30 a.m.

Presentation begins at 9:00 a.m.

Comments from public begin at 9:20 a.m.

Conclusion at around 10:00 a.m.

Second Town Hall Meeting

Tuesday, October 10, 2017

Doors open at 6:00 p.m.

Presentation begins at 6:30 p.m.

Comments from public begin at 6:50 p.m.

Conclusion at around 7:30 p.m.