this is an update of the geobond rate. the red line at the top is the 2006 rate. increased property tax rates while we have issued $1.50 billion worth of bonds. the white on the bottom shows the bonds that have been issued. the colored bars above show the ones that are to be issued. some of those are contemplated in to the future. we have had lots of discussion and we always do at the capital planning committee about this graph and how we can continue to manage all those on that needs -- unmet needs in a way that is responsible and not overly burdensome on property owners. one of the drivers of this graph and people have asked can we increase the spawn or about one, one of the drivers is the assessed value of property across the city. that read bar moves up or down based on the excess of value. early in our days we were looking at a 4.5% growth in value every year. the past two years we have seen that taper off dramatically because of the recession. and now the estimates forc fiscl year 13 -- a goes to 3% for two years and back up to 4.5% after fiscal year 16 to t

that has to get into that -- by geobond. there are some risks associated with the capital budget. just the way there are with the operating budget. we have pretty healthy funding levels that allow us to advance a lot of the goals of the strategic plan. >> thank you during a match. directors, questions? -- thank you very much. directors, questions? >> no member of the public was here to address you on the capital budget. but we do have public comment for matters that are not on the agenda. >> on page five, i am noting the bicycle pedestrian spending is going down dramatically as we move along the gears. is that because it is being -- i know that safety goes up. it was under system safety. should i be worried about that given that we have a lot of bicycle and pedestrian mode shifts in our goals and strategies? >> i am not sure what you were looking at exactly. the bike line item has the bike-specific funding. we are funding to our transit projects. we are adding bike lanes to transit projects. i do not know beyond that, if there is any specific explanation. >> ibm noticing specifica