Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Switzerland, US strike tariff deal, cutting duties to 15% and unlocking major investments
    • Which sectors did mutual funds prefer in October 2025?
    • Which ETFs Are Best To Buy In 2026?
    • Ghana’s commitment to attracting foreign investments, strengthening international partnerships strong – GIPC Boss
    • Dimensional’s active UCITS ETFs listed in London
    • Meloni’s government eyes Italian family gold in hunt for budget funds
    • Morocco Plans to Boost Desalination Investments 112% by 2033
    • Top Focused Mutual Funds in November 2025
    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

    UK government bonds sink after Reeves ditches plan to raise income tax

    November 14, 2025

    Scotland plans to issue £1.5bn of its own bonds – ‘kilts’ rather than gilts – The Guardian

    November 13, 2025

    Sovereign Gold Bond 2017–18 Series VII matures with 321% return; can you still buy these govt gold bonds?

    November 13, 2025
    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

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

    February 12, 2024

    Ghana’s commitment to attracting foreign investments, strengthening international partnerships strong – GIPC Boss

    November 14, 2025

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

    November 19, 2023
    Don't Miss
    Investments

    Switzerland, US strike tariff deal, cutting duties to 15% and unlocking major investments

    November 14, 2025

    The United States and Switzerland have reached a breakthrough trade agreement that will sharply reduce…

    Which sectors did mutual funds prefer in October 2025?

    November 14, 2025

    Which ETFs Are Best To Buy In 2026?

    November 14, 2025

    Ghana’s commitment to attracting foreign investments, strengthening international partnerships strong – GIPC Boss

    November 14, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Capital Investments & Customer Expansion Fuel Spire’s Growth

    August 21, 2025

    Global Equity ETFs Draw Rising Investor Interest

    September 10, 2025

    Understanding STP in Mutual Funds: A Comprehensive Guide

    April 5, 2025
    Our Picks

    Switzerland, US strike tariff deal, cutting duties to 15% and unlocking major investments

    November 14, 2025

    Which sectors did mutual funds prefer in October 2025?

    November 14, 2025

    Which ETFs Are Best To Buy In 2026?

    November 14, 2025
    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

    ₹10,000 monthly SIP in this mutual fund has grown to ₹1.52 crore in 22 years

    September 17, 2025
    © 2025 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

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