Fairfax City Council
July 17, 2024

Previous Discussions Regarding Roads/Bond
• February 1, 2023,
• March 1, 2023,
• March 6, 2024,
• January 10, 2024,
• January 24, 2024,
• May 8, 2024,
• June 5, 2024
Ballot Measure for Bond: Process Timeline
Previous
• Council Direction to pursue scientific survey - January 10, 2024 • Road Project Planning (based on current resources) - January 24, 2024
• Voter Surveying/Polling firm selected and Council Sub-Committee Appointed - March 6, 2024
• Surveying/Polling - latter half of April 2024
• Survey results presented - May 8, 2024 Budget Workshop • Survey results presented again, and Council directed staff to update 5-year paving plan, reflecting potential bond - June 5, 2024 • A revised 5-year road plan was presented earlier - July 17, 2024 Ballot Measure for Bond: Process Timeline
Now
• Council needs to approve the attached Resolution of
Necessity and conduct a first reading of the Ordinance
890
• Attachments contain the 75-word-limited ballot
statement
• Supplement contains the Tax Rate Statement and
additional info
• Bond features and next steps detailed in further slides Ballot Measure for Bond: Process Timeline
Features
• $30 per $100,000 of assessed valuation
• Tax rate to apply in each fiscal year that the bonds are outstanding, first occurring no earlier than in fiscal year 2025-26
• Final fiscal year tax will be collected is fiscal year 2057-58 • Total debt service, including principal ($18 million) and interest is approximately $40 million
Ballot Measure for Bond: Process Timeline
Next
• Adopt the Ordinance and a resolution placing a
measure on the November 2024 ballot - August 7, 2024
• Voter Campaign
• Voter Approval – Possible November 5, 2024
• Project Implementation
Questions?
Town’s Bond Council and Municipal Advisor available on Zoom