Chandler’s Bond Program Recognized for Financial Strength

Chandler residents have another opportunity to shape the future of our city. A Special Bond Election on Nov. 4 will ask voters to authorize the issuance of general obligation bonds for parks and recreation, public safety and streets.

The bond program targets four areas critical to our community's future:

Fire Services: Opening a new station near Chandler Airport, modernizing existing fire facilities and replacing aging trucks and equipment.

Parks and Recreation: Upgrading parks, sports fields, playgrounds, aquatic centers, and recreation venues we all enjoy.

Police Services: Renovating police headquarters, improving technology and communications systems and replacing patrol vehicles.

Streets: Repaving roads, repairing infrastructure and updating traffic signals and intersections for safer, smoother travel.

Our bond program has a demonstrated record of financial stewardship that enables the city to borrow at lower interest rates, which benefits taxpayers. We have earned the highest possible bond ratings from all three national rating agencies for over a decade, a distinction few cities can claim.

The city has a long-standing practice of aligning new bond sales as existing debt is paid off, which ensures that bond funded projects come with no projected increase to the current property tax rate.

This approach also has enabled the Chandler City Council to reduce primary property taxes for 10 consecutive years while maintaining secondary rates. That demonstrates our commitment to affordability even as we invest in the future.

Chandler's fiscal discipline was recently showcased by the National League of Cities as a national model for best practices. Strategies that align ongoing revenues with ongoing expenses, conserve one-time revenues for one-time costs and maintain healthy reserves have underpinned our success.

Evidence of the city's financial discipline doesn't stop there. We've paid down significant pension liabilities, crafted transparent budgeting policies and prioritized responsible management.

With no projected increase to current property tax rates, this November voters can choose to authorize city bonds that positively impact our quality of life and provide for investment in city services and infrastructure.

I urge every resident to learn more at chandleraz.gov/bondelection and participate in the bond election on November 4.

Note: Chandler projects no increase to the current property tax rate. The estimated average tax rate for the proposed bond authorization is $0.4795 per $100 of assessed valuation. The city intends to time the issuance of new bonds when existing debt is paid off, which will maintain the current secondary property tax rate at $0.87 per $100 of assessed valuation.