Continue the Progress: Vote Yes Bond 2004 Little Rock

Little Rock's 2004 Bond Program: Building Our city.

Background

On November 4, 2003, the citizens of Little Rock heartily endorsed a $69 million bond issue supported by a 3.3 mill property tax millage. Taxes on a $100,000 home will be about $66 per year. Funds will be used for –

$31,050,000 for infrastructure improvements (45%),
$24,150,000 related to public safety improvements (35%),
$9,200,000 for improvements to the city’s parks & recreation facilities (13.33%), and
$4,600,000 for upgrades and improvements to the Zoo (6.67%).

Election talleys are listed below. Results are shown by individual ballot title.

Bond Election Results

Yes

Bond Information Graph

History

The City of Little Rock’s citizens have previously supported similar mill levies, providing over $84,930,000 of improvements. The November 2003 election was, in fact, on the 45th anniversary of the first bond issue supported by the electorate in 1958. Bond issues of this type generally are supported by Little Rock’s citizens because they specifically list individual projects to be funded. With refinancing of the 1995 bond issue in 2001, all previous bond issues have been retired.

Bond Issue	Election Date	Total Issue	New Money	Refunding	Bond Maturity	Maximum Mill Levy
1958	Nov. 4, 1958	$1,650,000	$1,650,000	$0	25 years	3.25 mills
1965	Sept. 14, 1965	$8,000,000	$4,925,000	$3,075,000	25 years	3.75 mills
1977	Sept. 21, 1976	$15,000,000	$14,850,000	$150,000	21 years	3.75 mills
1988	Oct. 13, 1987	$33,595,000	$33,595,000	$0	25 years	3.434 mills
1995	Oct. 11, 1994	$45,310,000	$29,910,000	$15,400,000	17 years	3.434 mills
2004	Nov. 4, 2003	$69,000,000	$0	$0	15 years	3.3 mills

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