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HomeMy WebLinkAboutA004 - Handout on Capital Improvement Reserve Fund and Levy OHANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements , or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues , road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements, the concept of a reserve fund, and preferred uses for the moneys accumulated. ye �� -`3 _./ ✓ n t U �Ae fpci V I C&C I et 0,4., Jr .7,-. Ir e— c[� r" u w Zo -L. ✓ seµ - C r e S V—zi L 1 'F u t —YCi Yk �. (j - �L „� t" S i.. i Yk W( t tLlicZ 4C — D Y1 1 d ! S�-� f�///�'yl/ 1 �c 4�V 1"l L_tlec r (Please/ feel free to use the back of this sheet, if necessary.) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LOY BACKGROUND The Code of Iowa provides in Section 394. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements , or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. IQ o A? - �2a�LErtiS CI s S A-D W IFo P_ f 0 H Co 2e5 Wai.,c,s PL4 8 L i C S 04 G_E_TY Fi4 6I L/7 y Iv�-r o•.� T 0 1. 13 rN JT 5W% VA M%0 r. L' lrolt- wLs-5 ' -f o 2 c"' PArz445 0 Ti+e9L 7j-kt3 y L-D C oA,. Y?,-( A(ZE; A)a-r iv D a (Please feel free to use the back of this sheet, if necessary. ) • HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND AY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. value each year may A tax not to exceed 67-1/2 cents per 1,000 dollars of taxabley y be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues , road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. (Please feel free to use the back of this sheet, if necessary. ) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. z Vol ) � . (please feel free to use the back of this sheet, if necessary.) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues , road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements, the concept of a reserve fund, and preferred (uses for the moneys accumulated. UAt 01 v (Please feel free to use the back of this sheet, if necessary.) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths , etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements, the concept of a reserve fund, and preferred uses for the moneys accumulated. p 1 V S (Please feel free to use the back of this sheet, if necessary.) -V HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements , or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues , road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred eferred uses for the moneys accumulated. (please feel free to use the back of this sheet, if necessary.) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which tool in the bud tin of various sources of funds for a great serves as a valuableplanning s � g variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. IL 67 (Please feel free to use the back of this sheet, if necessary. ) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements , or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Trans ortation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike aths etc Water - pro uc ion, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. Y e r-� C;5" �'*�✓�- e c (Please feel free to use the back of this sheet, if necessary.) �� � �� a_ �.��e-mac ����' �-� � HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements , or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements, the concept of a reserve fund, and preferred uses for the moneys accumulated. ti C -;z A (Please feel free to use the back of this sheet, if necessary.) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues , road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements, the concept of a reserve fund, and preferred uses for the moneys accumulated. (Please feel free to use the back of this sheet, if necessary. ) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LOY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements , or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708, 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. �-' J' LZ (Please feel free to use the back of this sheet, if necessary. ) s • HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues , road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. SLWGW14 JALc� vnosf e- tic Uk 16-j%n, �d U I (Please feel free to use the back of this sheet, if necessary. ) i • r� aa� wt /3 t-1.f HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election,' ition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. 141 (Please feel free to use the back of this sheet, if necessary. ) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements, the concept of a resAc" rve fund, and preferred uses for the moneys accumulated ' 1 i Ubtf7lWz-41t_;')a"�' �q dt �0 Lu-,I e-� ZA 141L� at4,L14Le U"'J L 1 ( JLct (Please feel free to use the back of this sheet, if necessary. ) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements, the concept of a reserve fund, and preferred uses for the moneys accumulated. f' (Please feel free to use the back of this sheet, if necessary.) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384.7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements , or for carrying out a specific capital improvements plan, r 1 000 dollars of taxable value each year may A tax not to exceed 67-1/2 cents per Y Y be levied with approval of the voters for a period of time which must aLs o be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 y H. USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation -�ark_a uisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. (Please feel free to use the back of this sheet, if necessary. ) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements, the concept of a reserve fun , and preferred uses for the moneys accumulated. CtS ►G &CL.r fir ►�/� C. ar r - r Ila I_h a k e 4l� �r 9J/L � (Please feel free to use the back of this sheet, if necessary.) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384.7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 2810982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. 42 1� '� �� yo 1��.,.� '��:�-x .��o� �1 rar.la.��� VJr� c � +' LJ U- (please feel free to use the back of this sheet, if necessary. ) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital �" " improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds articular) parks and recreation, general administration, and many street projects. particularly l� A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. ar d�wL�6r�� r1I yi* wlMnD l lL� ^� Qrv-1 �WgrW t'L0 4 L.� A \ ` ., !JALTa+. JV� ,� '^-�'�Lwlj�b /� ({�Z BIJ`•vv +�. G ( V<J� 4�_ VLJI-4.N`11' R'VN (Please feel free to use the back of this sheet, if necessary.) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements, the concept of a reserve fund, and preferred uses for the moneys accumulated. I 14 tv�a _ �A a It Cam. 44 Jv t y, aJ (Please feel free to use the back of this sheet, if necessary.) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LEVY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues, road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements , the concept of a reserve fund, and preferred uses for the moneys accumulated. (Please feel free to use the back of this sheet, if necessary.) HANDOUT ON CAPITAL IMPROVEMENT RESERVE FUND AND LY BACKGROUND The Code of Iowa provides in Section 384. 7 for the establishment by a city of a capital improvement reserve fund for the purpose of accumulating moneys for the financing of specified capital improvements, or for carrying out a specific capital improvements plan. A tax not to exceed 67-1/2 cents per 1,000 dollars of taxable value each year may be levied with approval of the voters for a period of time which must also be approved by the voters. The levy may be terminated by election, petition, or motion of the City Council. The City of Ames has long maintained a five-year capital improvements plan which serves as a valuable planning tool in the budgeting of various sources of funds for a great variety of needed capital improvements in our community. The purpose of these meetings is to receive your opinions and suggestions on capital improvement needs and sources of funds , particularly as they relate to the establishment and use of a reserve fund. AMOUNTS Based on estimates of total property values and a 4% annual rate of growth, the following amounts would be generated by a levy over a ten-year period: 1978-79 $241,040 1983-84 $293,261 1979-80 250,681 1984-85 304,992 1980-81 260,708 1985-86 317,192 1981-82 271,137 1986-87 329,880 1982-83 281,982 1987-88 343,075 USES Moneys from the fund could be used for any capital improvement project. They could not be used for retirement of outstanding bonds. However, the existence of the fund would make it possible to avoid financing many needed improvements through issuance of bonds. The Capital Improvements Plan each year contains projects in the following categories: General Administration - public buildings Public Safety - police and fire protection Transportation - transit and airport Streets - construction, traffic control, resurfacing, widening, bike paths, etc. Water - production, treatment, and distribution system W. P. C. - sanitary sewer system, treatment facilities Storm Sewers - drainage improvements Electric Utility - plant and distribution improvements Parks and Recreation - park acquisition and development, recreational facilities Projects in any of these areas could be financed in whole or in part by a reserve fund. There are unmet needs in each and every area. Many of the areas are relatively well covered with non-tax moneys or shared revenue such as utility revenues , road use tax, and federal grants. Other areas have traditionally relied on general tax revenues and general obligation bonds; particularly parks and recreation, general administration, and many street projects. A reserve fund can be an economical method of meeting needs within the balance of the fund and maintaining capacity to undertake larger projects beyond the capability of the reserve fund. SUGGESTIONS Below, please note your comments and suggestions on needed improvements, the concept of a reserve fund, and preferred uses for the moneys accumulated. �il/e �l�C �1�1—c-YP76=`i-- --y^ '!L{t r IL`� G-�. 1/ "L' -Z-'�'`'Z G„����-!'L,✓ �(_ kJ �-.-C��/�-tt-l� _'f`�L�`- cam "`� (Please feel free to use the back of this sheet, if necessary. )