Mesa voters overwhelmingly accepted $100 million in general obligation bonds spending for multiple transportation construction projects over the next five to seven years.
Mayor John Giles said the funds will be paid for with a secondary property tax, but will also qualify the city for tens of millions of dollars in matching monies paid for by Proposition 400 funds, which expire at the end of 2025.
“For us to get out of that fund what we’re entitled to as a city, we need to have some matching dollars. So, issuing these bonds would allow us to have the money and go forward with the projects that would allow us to access $62M from Proposition 400 funds,” he added.
Giles said the bond will be paid for with a secondary property tax and represent about a $25 increase per year for the average homeowner over the life of the bonds.
