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MEASURE NO. 24-103 City of Woodburn Ballot Title: Referred to the People by the City Council
Community Center General Obligation Question: Shall the City be authorized to contract a general obligation bonded indebtedness in an amount not to exceed $5,075,000? If the bonds are approved, they will be payable from taxes on property or property ownership that are not subject to the limits of sections 11 and 11b of Article XI of the Oregon Constitution. Summary: This measure authorizes the City to issue general obligation bonds to construct, equip and furnish a community center; acquire property; construct and renovate parking facilities; construct related improvements and pay all costs incidental thereto. The project would replace the current Community Center with a new building at Front and Oak Streets. The new center would be available for recreation programs for youth, adults and senior citizens; conferences; public meetings; and performing arts. The total cost is estimated to be $5,895,000. The City will apply for federal and state loans and grants and other contributions and general obligation bonds would be issued to pay the balance of the cost, but in no event more the $5,075,000. The City will pledge park and recreation system development charges in an amount not to exceed $1,564,200 to pay principal and interest over the life of the bonds. The City will levy ad valorem taxes annually in amounts necessary to pay remaining principal and interest. The bonds would mature over a period of not to exceed 20 years. |