Proposition 409 - Bonds - The Explorer: Elections 2012

Proposition 409 - Bonds 100%

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Shall the City of Tucson be authorized to issue and sell not exceeding $100,000,000 in aggregate principal amount of its general obligation bonds exclusively to provide funds to restore, repair, resurface and improve the condition of its streets, including payment of all necessary costs and fees in connection therewith; such bonds to be issued in one or more series, maturing not more than 30 years from the date of issuance of each such series, and bearing interest at a rate or rates not in excess of 8% per annum?

The issuance of these bonds will result in a property tax increase sufficient to pay the annual debt service on bonds.

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