Scottsdale city council approves $107M bond issuance for parks and public safety projects

In a special meeting held on March 18, 2025, the Scottsdale City Council addressed significant financial initiatives aimed at enhancing community infrastructure and public services. The primary focus was on the third issuance of general obligation bonds related to the 02/2019 bond program, which aims to fund various projects across parks, recreation, community spaces, and public safety.

Assistant City Treasurer Anna Henthorn presented the details of the bond issuance, which totals $107 million. This issuance follows two previous rounds of funding—$55 million in 2021 and $70 million in 2023—bringing the total authorized amount to $186 million. The remaining authorization after this issuance will be $79 million. Key projects funded by these bonds include the development of a new dog park at Thompson Peak and improvements to community facilities such as the renovation of the Veil Linda police station and enhancements to public parks.

The council discussed the financial implications of the bond issuance, noting that the city's secondary property tax rate would remain relatively stable, decreasing slightly from 43.5 cents to 42.5 cents per $100 of assessed valuation. This stability is crucial as it ensures that residents are not burdened by significant tax increases despite the new debt.

In addition to the general obligation bonds, the council also reviewed a proposal for a municipal property corporation excise tax bond issuance, which will finance $120 million in water and wastewater projects. This financing is essential for maintaining and improving the city’s water infrastructure, including significant projects like the Greenway Hayden Loop and improvements to the Frank Lloyd Wright booster station.

The council's discussions highlighted the importance of these financial strategies in supporting Scottsdale's growth and sustainability. By securing funding for critical infrastructure projects, the city aims to enhance the quality of life for its residents while ensuring fiscal responsibility.

As the council moves forward, the next steps include posting a preliminary official statement on April 11, followed by the sale of the bonds in late April and the anticipated closure of the bonds by mid-May. These actions will enable the city to access the necessary funds to implement the outlined projects effectively.