2007 General Obligation Bond Program and 2007-2016 Decade Plan

This document summarizes the approved 2007 General Obligation Bond Program and 2007-2016 Decade Plan for capital improvements.

The General Obligation Bond Program for 2007 was established by R-06-21; Enactment 2006-039 at a minimum of $142 million, including a $9.0 million set-aside for Council-Neighborhood initiated projects. During the planning period, it was determined that the City's general obligation bond capacity has increased to $160 million, including Council-Neighborhood Set-Aside, 1% for Impact Fee Reductions; 3% for energy conservation and 1% for public art. The current value of the approved general obligation bond program is $149,387,000. When 1% for Public Art and Council-Neighborhood Set-Aside are added to the Mayor's recommendation, the total proposed General Obligation program will be $159,973,000. Departments submitted approximately $224 million in project requests for the general obligation bond program. In order to conform to the available funding, many City projects were reduced or deferred to out-years.

Mayor Martin Chávez is pleased to recommend the 2007 General Obligation Bond Program and 2007-2016 Decade Plan to the citizens of Albuquerque.

The General Election for the 2007 GO Bond Program is October 2, 2007.