Initial results from Tuesday’s election show support for Phoenix issuing half a billion dollars in bonds, with approval ranging from 60% to 70%.
Voters were asked four questions about the city’s plan to finance major infrastructure projects.
Unofficial results as of Nov. 8
| Bond | Yes | No |
|---|---|---|
| Question 1 | 70.55% | 29.45% |
| Question 2 | 64.10% | 35.90% |
| Question 3 | 61.92% | 38.08% |
| Question 4 | 65.66% | 34.34% |
General obligation bonds are a commonly-used, long-term borrowing tool for cities. A city issues bonds, which investors buy because they are tax-exempt and considered low-risk. A city pays back the bond, along with interest, over many years.
In Phoenix’s case, the debt is paid back using secondary property taxes. Barring major economic changes, Phoenix says the secondary rate will not increase to cover bonds. If voters do not approve, the council would have to find other funding or delay projects.
→ More 2023 Maricopa County election results at a glance
Phoenix’s $500 million request is broken down four ways:
- $214 million for public safety, streets and pedestrian infrastructure.
- More than $108 million for library, parks and historic preservation projects.
- More than $114 million for education, economic development, arts and culture projects.
- $63 million for low-income housing and senior center projects.
Bond program summary allocation
Arts and culture - $50,385,000
Economic development and education - $38 million
Environment and sustainability - $26 million
Housing, human services and homelessness - $63 million
Neighborhoods and city services - $44,615,000
Parks and recreation - $64 million
Public safety - $132.5 million
Streets and storm drainage - $81.5 million
