Tempe Chamber votes support of bond-election measures
The Tempe Chamber of Commerce has gone on record in support of the Permanent Base Adjustment and Bond Election, scheduled May 21.
“Business as well as residents recognize the need for these fiscal adjustments,” said Chamber Vice President of Public Affairs Eric Emmert.
The permanent base adjustment will allow the city to spend revenue it already collects for programs it currently operates, according to Emmert.
“Approval of the bonds will provide the needed revenue for civic improvements throughout the community,” he said.
Permanent base adjustments, mandated by the state constitution, affect municipal base expenditure limits. Upon vote approval, the base limit is adjusted to meet a formula based on economic estimates. It is not a tax increase. The city seeks an adjustment of $21 million.
The Tempe bond election seeks voter authorization to issue municipal and general obligation bonds for city projects including water and sewer, street, law enforcement, fire protection and community service improvements.
In Tempe, bonds are sold over a six-year period to coincide with a Council-approved capital improvements program.