FINANCING COMMUNITY FACILITIES: A CASE STUDY OF THE PARKS AND RECREATIONAL GENERAL OBLIGATION BOND MEASURE OF SAN JOSE, CALIFORNIA

Abstract

This study of the City of San Jose’s Parks and Recreation General Obligation (GO) Bond Measure seeks to identify the politics-, management-, and planning-related lessons learned by the City as it developed its community facilities using the GO bonds proceeds. The study finds that these lessons include: be conservative in what you promise the residents; be prepared for changes in economic environment by identifying supplementary funding sources should the primary source not yield adequate funds; make sure that the jurisdiction is organizationally capable of handling the increased workload; and prepare detailed project plans prior to the bond issuance.Community Infrastructure and Services; Municipal Bonds; Public Finance