VOTE YES on PROP 443!

Make our city the best it can be.

The City of Prescott has an unfunded liability of more than $78.4 million from a legally mandated state run Public Safety Personnel Retirement System (PSPRS). The annual payments the city is required to pay have caused a reduction in critical services and is threatening to drastically diminish the quality of life we all love and cherish in Prescott.

Stand for Prescott is a grassroots citizens’ group dedicated to keeping Prescott the best it can be. We united together and created a Political Action Committee (PAC) to ask our fellow citizens to Stand for Prescott and Vote Yes on Prop 443.

N

A Yes vote on Prop 443

A Yes vote on Prop 443 will allow the City of Prescott to pay down the $78.4 Million of unfunded liability for PSPRS over a period of ten years or less. A Yes vote will also allow the City of Prescott to continue providing quality services such as:

  • Library
  • Parks and Recreation
  • Trails
  • Police
  • Fire
l

On the August mail-in ballot, you will be given the opportunity to vote Yes on Proposition 443, passing a 3/4¢ sales tax dedicated to paying down the unfunded liability.

Proposition 443 provides that:

  • The 3/4¢ sales tax will sunset in 10 years or when the liability amount is $1.5 Million or less which is our standard manageable payment.
  • The entire revenue from the 3/4 cent will be dedicated to paying down the unfunded liability.
  • In addition, the city council may direct additional payments from the General Fund towards the unfunded liability amount.

And here is what the ballot language says:

Shall the City of Prescott adopt a transaction privilege tax of three-quarters of one percent (0.75%), the revenue from which shall be dedicated to the payment of the City’s unfunded liability to the Public Safety Personnel Retirement System, taking effect on January 1, 2018, and ending the earlier of December 31, 2027, or at such time as the City’s PSPRS unfunded liability is $1.5 million or less as determined by actuarial value.

A “yes” vote shall have the effect of adopting a transaction privilege tax of three-quarters of one percent (0.75%), the revenue from which shall be dedicated to the payment of the City’s unfunded liability to the Public Safety Personnel Retirement System, taking effect on January 1, 2018, and ending the earlier of December 31, 2027, or at such time as the City’s PSPRS unfunded liability is $1.5 million or less as determined by actuarial value.

A “no” vote shall have the effect not of adopting a transaction privilege tax of three-quarters of one percent (0.75%), the revenue from which would have been dedicated to the payment of the City’s unfunded liability to the Public Safety Personnel Retirement System.

Bottom Line:

It is time to stop kicking this can down the road!
Waiting is expensive to the taxpayer, very expensive, to the tune of at least
an extra $60M over the next 20 years while drastically diminishing services
and our wonderful quality of life.