Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Fidelity 500 Index Fund (FXAIX): What Investors Should Know
    • Rs 2 lakh Profit From Equity Mutual Funds: How much LTCG tax will you pay after the Rs 1.25 lakh exemption? Calculations inside
    • SIF AUM jumps over fivefold in six months: Should mutual fund investors consider a switch? Experts weigh in
    • Bitcoin ETFs see biggest weekly inflow in 10 months
    • Mutual fund distributors account for over 75% assets from SIPs below Rs 500 – Mutual Funds News
    • 2 ETFs That Keep Paying You Even If the S&P 500 Goes Nowhere for Years
    • T. Rowe Price Bets on Fixed-Income ETFs With F/m Investments Deal
    • Mutual fund AUM rises 18.6% CAGR to ₹73.73 lakh crore in five years: Amfi
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Bonds»City Council to Consider Bond Measure for Central Library Earthquake Retrofit – Pasadena Now
    Bonds

    City Council to Consider Bond Measure for Central Library Earthquake Retrofit – Pasadena Now

    July 22, 2024


    Pasadena officials are proposing a $195 million bond measure to fund a comprehensive earthquake retrofit, repair, and update of the Central Library, slated for consideration by voters during the upcoming November General Municipal Election.

    The ordinance, scheduled for discussion at Monday’s City Council meeting, aims to authorize the issuance of general obligation bonds totaling $195 million. These funds would support essential upgrades to enhance seismic resilience and modernize facilities at the Central Library, a vital community resource.

    The 1925 Central Library building has been shuttered since May 2021 due to seismic safety concerns.

    The City has completed 60% plans and cost estimate and will complete construction drawings by spring of next year.

    The Central Library is one of the three major buildings in the city’s Civic Center District as part of the Bennett Plan. It was dedicated on Abraham Lincoln’s birthday, Feb. 12, 1927.

    The plan, developed by architect Edward Bennett, placed the city’s most important civic institutions — including the library and City Hall — within an area where streets conclude at the buildings: City Hall to the east, the library to the north, and the Civic Center to the south.

    In June, Jess Rivas and Jason Lyon said they could not support the measure.

    According to the ordinance, the Public Works Department would oversee the seismic retrofit and renovation project, addressing critical safety and infrastructure needs. The Finance Department would manage the issuance of bonds and ensure the repayment structure, with an estimated annual cost of $12 million over a 30-year period.

    Financial projections indicate an average annual tax rate increase of $19.60 per $100,000 of assessed property valuation, with a maximum estimated rate of $28.90 per $100,000. The bonds’ fiscal impact primarily includes issuance costs and debt service payments, aimed at securing necessary funding while managing taxpayer burdens responsibly.

    City officials emphasize that the proposed bond measure is essential to safeguarding the Central Library against seismic risks and ensuring its continued service to the community. If approved by voters, the measure would mark a significant investment in public infrastructure aimed at meeting safety standards and enhancing library facilities for Pasadena residents.

    Get our daily Pasadena newspaper in your email box. Free.

    Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    Jill On Money: Don’t ditch your bonds

    August 24, 2026

    Correction: Notice of the public offering of Hepsor AS bonds

    August 24, 2026

    Stagger your bonds and steady your cash flow

    August 23, 2026
    Leave A Reply Cancel Reply

    Top Posts

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    T. Rowe Price Bets on Fixed-Income ETFs With F/m Investments Deal

    August 24, 2026

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023
    Don't Miss
    Mutual Funds

    Fidelity 500 Index Fund (FXAIX): What Investors Should Know

    August 25, 2026

    Quick ReadFXAIX holds $832 billion in assets and charges just 0.015% annually, which works out…

    Rs 2 lakh Profit From Equity Mutual Funds: How much LTCG tax will you pay after the Rs 1.25 lakh exemption? Calculations inside

    August 24, 2026

    SIF AUM jumps over fivefold in six months: Should mutual fund investors consider a switch? Experts weigh in

    August 24, 2026

    Bitcoin ETFs see biggest weekly inflow in 10 months

    August 24, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    When Will the Investment in AI Pay Off?

    August 9, 2024

    MFS Launches Two New Active ETFs

    October 22, 2025

    SBI raises Rs 7,500 cr via tier 2 bonds to meet regulatory needs, others | Company News

    August 28, 2024
    Our Picks

    Fidelity 500 Index Fund (FXAIX): What Investors Should Know

    August 25, 2026

    Rs 2 lakh Profit From Equity Mutual Funds: How much LTCG tax will you pay after the Rs 1.25 lakh exemption? Calculations inside

    August 24, 2026

    SIF AUM jumps over fivefold in six months: Should mutual fund investors consider a switch? Experts weigh in

    August 24, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹9000 monthly SIP can help you retire at 45 with ₹2 lakh monthly pension

    May 5, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.