The El Mirage, Ariz., City Council has adopted a $43.5 million capital improvement plan for fiscal 2013 that includes the proceeds of $8.5 million of general obligation bonds approved by voters in November 2011.
Next year’s city budget will total $114.4 million. The budget for fiscal 2012 is $73 million.
The capital projects in the Phoenix suburb include a $32 million road widening effort, a $6 million police station, and a $5.5 million swimming and recreation center.
The bond proceeds will finance construction of the police station. The swimming facility will be built with the remaining $2.5 million of proceeds combined with a $3 million loan from the Greater Arizona Development Authority.
The road work will be accomplished with $6.4 million of proceeds from bonds approved by voters in 2008 and $26 million of revenue from a regional transportation sales tax.
The 2011 mail-in bond referendum was approved by only a three-vote margin in the city of some 31,000, according to final results from the Maricopa County Elections Department. Initial returns showed a 19-vote loss.
City officials said the projects are timed to take advantage of low interest rates and construction costs. Work is expected to begin in early 2013 and be completed by the end of the year.
The secondary property tax bill on average residence valued at $60,500 will go up $48 in fiscal 2013 to support the bonds.
El Mirage has no outstanding rated debt.
