City Of Burlington, Vermont Notice & Warning Of Vote To Incur A Bonded Debt | Public Meetings | Seven Days | Vermont's Independent Voice

The legal voters of the City of Burlington, Vermont are hereby notified and warned to come and vote at the Annual City Meeting on Tuesday, the 1st day of March, 2022 between 7:00 a.m. and 7:00 p.m. in their respective wards, at the voting places hereinafter named, for the following purposes:

To vote upon two bonding articles placed on the ballot by request of the City Council, said bonding articles being as follows:

1. AUTHORIZATION TO ISSUE GENERAL OBLIGATIONS BONDS FOR CAPITAL PROJECTS

"Shall the City Council be authorized to issue general obligation bonds or notes in one or more series in an amount not to exceed Twenty Three Million Eight Hundred Thousand Dollars ($23,800,000) for the purpose of accomplishing a series of capital improvements, replacements, and repair projects within the City, including but not limited to replacement of fire trucks and emergency communication systems, repair of ten city-owned facilities and nine miles of city sidewalks, and allocation of local matching funds for on-going or upcoming capital projects all of which are intended to preserve City facilities and services, avoid further maintenance and repair costs, and to further projects to improve the City and its infrastructure with the condition that if the City succeeds at securing other capital funds in excess of the current projections, which can be used in place of General Obligation bonding, the Administration will prioritize taxpayer savings as a goal with the additional condition that it may not reallocate bond proceeds to other investments, except with explicit City Council approval of the reallocation?"

2. PLEDGING THE CREDIT OF THE CITY TO SECURE INDEBTEDNESS FOR PUBLIC IMPROVEMENTS WITHIN THE DOWNTOWN TIF DISTRICT

"Shall the City Council be authorized to pledge the full faith and credit of the City to secure indebtedness or make direct payments for the purpose of funding one or more public improvements and related costs attributable to projects serving the Downtown Tax Increment Financing (TIF) District, specifically:

a. Main Street Streetscape Upgrades: For the six blocks between South Union Street and Battery Street inclusive of all intersections: to include streetscape, stormwater, utility, lighting, transportation upgrades, and including relocation of or otherwise upgrading the portion of the so-called "ravine sewer" from its present location crossing mid-block from College Street to Main Street in the block between South Union and South Winooski Avenue;

b. Related Costs: payment of or reimbursement for TIF eligible related costs incurred by the City for the creation, implementation and administration of the Downtown TIF District, including costs paid to outside vendors, consultants, and various related fees and other expenses related to the TIF district, as well as direct municipal expenses such as departmental or personnel costs related to creating or administering the district to the extent they are paid from the municipal and not education incremental taxes and are otherwise reimbursed in accordance with law;

in a total principal amount not to exceed $25,920,000 (which will bring the total Downtown TIF District debt approved since the Downtown TIF District's creation to $35,920,000, of which $10,000,000 has been previously authorized by voters and $5,420,000 has been previously borrowed with $4,580,000 that is approved but not yet borrowed), and to issue bonds, notes or make interfund loans for such purpose, and expend up to $1,470,000 for related costs, which will bring the total related costs authorized by voters to $1,848,000 with the understanding that tax increment from the properties within the Downtown TIF District shall be pledged and appropriated for the payment of such indebtedness or direct costs of the improvements; and with the further understanding that the City may utilize more than the statutory minimum requirement of 75 % of all municipal increment, up to and including 100 % of same, in meeting the financial obligations of the Downtown TIF District?"

The following are designated as polling places, viz:

Ward One/East District: Mater Christi School, 100 Mansfield Ave.

Ward Two/Central District: H.O. Wheeler School (Integrated Arts Academy), 6 Archibald St.

Ward Three/Central District: Lawrence Barnes School (Sustainability Academy), 123 North St.

Ward Four/North District: Saint Mark's Youth Center, 1271 North Ave.

Ward Five/South District: Burlington Electric Department, 585 Pine St.

Ward Six/South District: Edmunds Middle School, 275 Main St.

Ward Seven/North District: Robert Miller Community & Recreation Center, 130 Gosse Ct.

Ward Eight/East District: Fletcher Free Library, 235 College St.

The polls open at 7:00 a.m. and close at 7:00 p.m.

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Miro Weinberger, Mayor

Publication Dates: February 9, 16, and 23

Burlington, Vermont