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.' <br />In early January, a survey was conducted to determine the attitudes of likely voters towards the proposed <br />bond measure and other street funding sources. Citizens were asked a series of questions about the <br />importance of street repairs versus other City services, the potential funding solutions and costs for the <br />average taxpayer, and the relative importance of components of the street, bike and pedestrian <br />transportation system. A summary of the survey results will be presented at this meeting so that council <br />may use that information when considering how to structure the bond measure. <br />RELATED CITY POLICIES <br />The council's goals for 2007 include "Transportation Initiative: Develop mechanisms to adequately <br />fund our transportation system for cars, trucks, bikes and pedestrians including maintenance and <br />preservation and capital reconstruction." <br />COUNCIL OPTIONS <br />Council has before it several policy decisions related to the size of the measure, restrictions on uses of <br />the revenue and timing for the ballot measure: <br />• Measure size: Council recommended $6.5 million of spending in the first year, adjusted for <br />inflation, for a total measure of $81 million. Council could choose a different amount for the <br />bond measure. Attachment C includes the effect on taxpayers from different bond amounts. <br />• Project list: A proposed project list to be ineluded in the measure is provided as Attachment A. <br />Council could modify the project list or adopt other measure language as deemed appropriate. <br />• Timing of the ballot measure: Current direction is for a May measure. Council could <br />reconsider placing this issue on the ballot for the November 2008 election, based on factors <br />previously outlined. <br />CIT'Y MANAGER'S RECOMMENDATION <br />The City Manager recommends that a GO Bond measure to fund $8lmillion of pavement capital <br />preservation projects ($6.5 million plus inflation annually) over 10 years should be prepared for the May <br />2008 ballot. The resolution placing the measure on the ballot should include a high profile project list <br />and incorporate any additional tanguage as directed by council at this meeting. <br />SUGGESTED MOTION <br />Direct the City Manager to bring a resolution placing an$81 million GO bond measure on the May 2008 <br />ballot, consistent with the proposed project list included as Attachment A. <br />ATTACI~MENTS <br />A. Proposed List of High Profile Projects to be Included in the Bond Measure <br />B. Map of High Profile Projects Included in Bond Resolution <br />C. Itnpact on Taxpayer from Different Bond Amounts <br />FOR MORE INFORMATION <br />Finance Contact: Sue Cutsogeorge, Financial Analysis Manager <br />Telephone: 682-5589 <br />Staff E-Mail: Sue.L.Cutsogeorge@ci.eugene.or.us <br />