Would authorize $24,000,000 of bonds at legal rates to improve parks and recreation for children, families, senior citizens, and residents; upgrade and replace outdated restrooms; renovate sixty-year-old Youth Center; make safety and security improvements; upgrade playgrounds; and improve trails. Measure L requires at least fifty-five percent (55%) of the vote in order to pass.
Fiscal Impact: The best estimate of the average annual tax rate that would be required to fund this bond issue over the entire duration of the bond debt service is $15.42 per $100,000 of property valuation. It is currently expected that the final fiscal year in which it is anticipated that the tax will be collected is 2058-59. The best estimate of the total debt service, including the principal and interest, that would be required to be repaid if all the bonds are issued and sold is approximately $48,600,000.
Next Sacramento County Measure: Measure O