Comptroller Darlene Green statement in support of Prop 1, $50 million no-tax-increase bond issue

(St. Louis – March 24, 2022) On April 5, St. Louis City voters will have the opportunity to approve Proposition 1, an authorization for the city to issue up to $50 million in general obligation bonds. A “yes” vote on Prop 1 will fund capital investment in public safety and infrastructure needs without raising taxes.

This $50 million bond issuance is part of the city’s long-term financial strategy, which identified leveraging no-tax-increase bonds, when possible, as a fiscally responsible way for the city to make routine capital investment in critical public safety and infrastructure needs.

City leaders owe taxpayers the responsible management of their tax dollars before asking them to vote to raise their taxes, and this $50 million bond issue will allow the city to make several capital improvements without raising taxes. Those improvements will include projects like repaving streets and repairing bridges, maintaining fire and police facilities, and improvements to recreation centers.

Unlike in prior years, St. Louis is in the fortunate and enviable position of having multiple sources of funding available, including ARPA and the NFL settlement; but those these programs are temporary sources of revenue. Maintaining a consistent level of traditional capital funding via general obligation bonds enhances the city’s long-term, independent financial strength and will provide real, tangible benefits for taxpayers—in their everyday lives, in emergencies, and when they are doing business with the city.

I ask that St. Louisans again help the city address crucial needs on April 5 by voting “yes” for Prop 1. Residents will not see higher property tax rates, and the city will have the resources to make critical capital improvements. A “yes” on Prop 1 means we all win.

View the sample ballot at the Board of Election Commissioners website.

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Comptroller Darlene Green is the chief fiscal officer of the City of St. Louis and is charged with safeguarding the city’s credit rating and with protecting taxpayer dollars. She is the recipient of the 2019 Women in Public Finance Lifetime Achievement award. Visit www.stlouis-mo.gov/comptroller to learn more about the Office of the Comptroller.