[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6248367,"mediaKeyId","3211208-f40f39d24b4b02e014a0a9d475fcd16d","parentId",3211208,"title","Buckeye council approves purchase agreement for maintenance facility site, delays closing for executive session","audioSeconds",3396,"startMs",230000,"endMs",3626000,"viewUrl","/Search/View?dp=1&key=3211208-f40f39d24b4b02e014a0a9d475fcd16d&start=230&end=3626","thumbnailUrl","https://assets.pipeline.soar.com/3211208-f40f39d24b4b02e014a0a9d475fcd16d/thumbnail_230000.jpg","articleUrl","/articles/6248367/Buckeye/Maricopa-County/Arizona/Buckeye-council-approves-purchase-agreement-for-maintenance-facility-site-delays-closing-for-executive-session","mediaUrl","https://secure.pipeline.soar.com/6248367-d1b4fac10fc95b82c3257bd8dcf9606a/orig.mp4?Expires=1771157921&Signature=mnIhAf8sfF74Ta5XuXM6psuTjsM0XMoNqcotIbPkpm7N5wFRPO4k3-hpbuUPNFlFMDs6ey1q8n6yYwyhZcBgni8OQBCEkV2SbdGU8KCqlk-UY~zGdgZKnq8jMfB12bJhXzcozCwKT0tjXdWw9uVaZCjjiEJKLK7QkqPDh-L0iAXe4BqPVDP6HREh~WtFGL9Izc8EVdlmmkdZgNCWR-LgwRL9oqdChzJ-9IyMDaJ2mwlt9zeDdjNWJl9SWOxcWvqLdRc7zrwHeGdPa2J-MwwSRLTWO~ESPQvpk4AuWnCJgdlw56S2ZGt3xa~eCqvsmcH9ZyWXKR5IoxEKr1vF8COdEA__&Key-Pair-Id=KUT5TJCACFTXG","author","City of Buckeye, AZ","date","2025-05-07T14:29:54.937Z","article","The Buckeye City Council voted unanimously on May 6 to approve a capital improvement project to acquire property for a city maintenance facility and parking lot and authorized the city manager to execute a purchase and sale agreement with Wynne Oil Company for an amount not to exceed $1,500,000.

Council Member Jonker, who initiated removal of the item from the consent agenda for separate consideration, moved the measure and said, \"as we discussed in, our earlier meeting, put a motion out there for adoption. Council to take action to approve the creation of the 1 capital improvement program, project known as the maintenance facility and parking lot, and in connection with the CIP to authorize the city manager to execute that certain purchase and sale agreement, between Wynne Oil Company and the city of Buckeye in an amount not to exceed $1,500,000 In addition, also the motion would include that the city would not close on that transaction prior to coming back to the city council and have an executive session on the matter.\" The motion was seconded and passed unanimously.

Why it matters: the purchase would create a city maintenance site and parking lot as part of the city’s capital improvement program (CIP). By adding the requirement that the city not close until it reconvenes and holds an executive session, the council preserved additional opportunity for closed deliberation before finalizing the transaction.

Action and next steps: the council authorized the city manager to execute the purchase and sale agreement with Wynne Oil Company, with a price cap of $1.5 million. Council directed that staff return to the council for an executive session before closing the transaction. The city attorney had advised on procedure earlier in the meeting when members sought to move the item into executive session for discussion.

Context from the meeting: the item was pulled from the consent agenda earlier in the meeting and discussed after the consent vote. Council approved the remaining consent items, then separately approved item 4N following the council’s executive session motion and subsequent return to the regular meeting.

What’s next: staff will proceed under the delegated authority to execute the purchase and sale agreement and will not close on the property until the council holds the executive session and returns with any further instruction or action.","mediaType","Video","parentTitle","Buckeye City Council Meeting 5-6-2025","oneSentenceSummary","The council unanimously approved a capital improvement project to acquire land from Wynne Oil Company for a maintenance facility and parking lot, authorizing the city manager to sign a purchase and sale agreement not to exceed $1.5 million and requiring that closing not occur before the council reconvenes in executive session.","taxTitle","Buckeye, Maricopa County, Arizona","taxId",4652,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6248373,"Buckeye council authorizes immediate $75 million in voter‑approved general obligation bonds",1018,3299000,4317000,"/Search/View?dp=1&key=3211208-f40f39d24b4b02e014a0a9d475fcd16d&start=3299&end=4317","https://assets.pipeline.soar.com/3211208-f40f39d24b4b02e014a0a9d475fcd16d/thumbnail_3299000.jpg","/articles/6248373/Buckeye/Maricopa-County/Arizona/Buckeye-council-authorizes-immediate-75-million-in-voterapproved-general-obligation-bonds","https://secure.pipeline.soar.com/6248373-a8768c009e7b04b0489a116112a18b15/orig.mp4?Expires=1771157921&Signature=DA8wkjSY85a1W~80jfflfCmI7jlDwyCQy91-4otWlyrIIIsBjfuX9BKRfmQgvglgbH-o6WLvJQyP44SnSAjGQCCtJgrnxkCWmcr6skfhjFFF-tvQi5ls~YDa7Xp3m31Qh09L96eZlow62lGcOBlZCYDIw4WVUV7n~efrGAeO6GNLxAA4-HGTSJokttPVoq62ip27e-dczQrcGiK~N2T5t~rx~utAnsgHGtXciOsI1TowOPNa0ajihGUfVzltmCMt49OB8cziHQygAienEG7POAu0YRp4tBxmD7Y0YpeARsl~lewmM5MIciANLE6joys1ZpivV8IM4nA5jU4JvqH21w__&Key-Pair-Id=KUT5TJCACFTXG","The Buckeye City Council voted unanimously on May 6 to authorize the city to issue $75,000,000 of voter‑approved general obligation (GO) bonds as the first tranche of a larger $282,000,000 program.

Finance staff told the council the first issuance will be repaid through a secondary property tax and officials expect to close the first sale in June. William Coppi, finance staff, told the council, \"with your approval tonight, basically finance staff will move forward with issuing $75,000,000 of voter approved, GO bonds.\" He also said one rating agency had just rated the city \"AAA,\" a designation he called beneficial for lowering interest costs.

Why it matters: the bonds will fund projects listed in the city’s capital improvement plan and are supported by voter approval earlier this year. City officials said they plan to keep the combined primary and secondary tax rate at or below $2.25 and that the debt service will be paid by the city’s secondary property tax levy.

Key facts: the $75 million is the first of up to three planned issuances that together match the $282 million voter authorization. Officials described a tentative schedule that would place a second issuance of about $110 million in 2029 and a third issuance in 2033 if assessed values and market conditions proceed as projected. Coppi said the city will not exceed 25‑year maturities for the bonds and does not expect yields to approach the 8% ceiling mentioned in the resolution materials.

Council members asked operational questions about public access and taxpayer responsibility. Councilman Kovan asked if taxpayers would only pay debt service on the $75,000,000 and not the full $282,000,000; Coppi replied, \"That is only paid by the secondary property tax by the residents or residents within the city of Buckeye.\" Another council member asked whether individual residents could purchase portions of the bonds; Coppi said individuals can buy through the city’s underwriting firm and noted a typical minimum purchase is $5,000.

Additional details from the presentation: staff said the city’s projection of assessed value growth used a conservative 9.3% annual increase for planning; the median residential impact in the first year was estimated at about $115 annually on a median home with a limited property value of $176,000. Officials noted that commercial and agricultural properties use different assessment ratios. The council voted to approve agenda item 5A, effectively authorizing the finance team to proceed with the first bond issuance and related documents. The city manager and finance staff said formal adoption of tax rates is scheduled for a future council meeting (June 17) prior to closing.

What’s next: staff will work with the city’s financial adviser, underwriter and bond counsel to finalize sale documents and return with the formal tax‑rate ordinance and closing resolutions. Residents interested in purchasing bonds were told to contact the underwriting firm, Stifel, for account setup and purchase procedures.","The Buckeye City Council voted unanimously May 6 to authorize issuing $75 million of voter‑approved general obligation bonds as the first tranche of a $282 million program, to be repaid by a secondary property tax not to exceed $2.25.","actionData","errors"]

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Buckeye council approves purchase agreement for maintenance facility site, delays closing for executive session

Buckeye council authorizes immediate $75 million in voter‑approved general obligation bonds