LAKE OSWEGO PARKS DEVElOPMENT, OPEN SPACE AND PATHWAYS BOND ISSUE
QUESTION: Shall the City issue general obligation bonds not to exceed $9.75 million for parks, open space and pathways? If the bonds are approved, they will be payable from taxes on property or property ownership that are not subject to the limits of sections 11 and 11b, Article XI of the Oregon Constitution.
SUMMARY: Up to $5.2 million of bond proceeds will be used for improvements for new or existing parks and pathways, and for the cost of the bonds. Up to $4.55 million of bond proceeds will be used to acquire interests in real property for open space or park purposes and for the cost of the bonds. Open space land is maintained in its natural or landscaped condition for the purposes of providing a scenic, aesthetic appearance, protecting natural processes and vegetation and creating green belts. Parks consist of land used by the public for active or passive recreation. The bonds will be payable over a period not to exceed 20 years.
EXPLANATORY STATEMENT
This measure has been referred to the voters by the Lake Oswego City Council. If enacted, the measure would authorize the City to issue general obligation bonds totaling up to $9.75 million for parks, open space and pathways.
The measure designates up to $4.55 million of the bond proceeds to be used to acquire interests in real property for open space and parks. Open space land is that which is maintained in its natural or landscaped condition in order to provide a scenic or aesthetic appearance or to protect natural resources. Open space land is also used to preserve green belts. Park land is that which is designated for active or passive recreation by the public. Proceeds could be used to acquire land for open space and parks within the City, as well as within adjacent unincorporated areas where such acquisition is determined to be in the City’s long-term interests.
The measure also designates up to $5.2 million for improvements for new and existing parks and pathways. Examples of improvement projects that could be eligible for bond proceeds, and the potential distribution of funds among such projects, include:
- Up to $1 million for improvements for proposed Marine Park on the site of the former chip plant on the Willamette River;
- Up to $1 million for pathways connecting publicly owned lands;
- Up to $700 thousand for capital park projects in neighborhoods;
- Up to $2 million for sport field development for youth and adult programs on property owned by the City or the Lake Oswego School District; and
- Approximately $500 thousand for opportunities and contingencies.
The bonds will be payable over a period of up to 20 years.
A “yes” vote authorizes the City to issue the bonds for parks, open space and pathways. A “no” vote prevents the City from issuing the bonds.
Submitted by:
David Powell,
Lake Oswego City Attorney
No arguments FOR or AGAINST this measure were filed.