Community Priorities for General Obligation (GO) Bond Funding |
What is a General Obligation (GO) Bond? What does GO Bond Funding Provide?
GO Bonds are bonds backed by the full faith and credit of the City of Albuquerque. They may be redeemed by any regular source of funding, but as a policy matter are generally redeemed by property taxes paid to the City. The projects these bonds fund are proposed by the Administration and City Council, and then are put forth to the voters in November during odd numbered years.
GO Bonds fund basic needs and quality of life projects, public safety projects, streets and storm drainage, public transportation, parks and recreation, libraries, and senior and community centers. This includes building renovation, major repairs, new construction, energy efficiency upgrades, major equipment such as fire trucks, pool filters, playground equipment, etc. These funds cannot be used for temporary things such as employee salaries, operating expenses, events.
GO Bonds fund basic needs and quality of life projects, public safety projects, streets and storm drainage, public transportation, parks and recreation, libraries, and senior and community centers. This includes building renovation, major repairs, new construction, energy efficiency upgrades, major equipment such as fire trucks, pool filters, playground equipment, etc. These funds cannot be used for temporary things such as employee salaries, operating expenses, events.