Garland, Texas, Proposition F, Economic Development Bond Issue (May 2019)
| Proposition F: Garland Economic Development Bond Issue |
|---|
|
| The basics |
| Election date: |
| May 4, 2019 |
| Status: |
 Approved
|
| Topic: |
| City bonds |
| Related articles |
| City bonds on the ballot May 4, 2019 ballot measures in Texas Dallas County, Texas ballot measures |
| See also |
| Garland, Texas |
A bond issue designed to fund economic development projects was on the ballot for Garland voters in Dallas County, Texas, on May 4, 2019. It was approved.
| A yes vote was a vote in favor of authorizing the city to issue $46,000,000 in bonds over 40 years to construct and improve infrastructure and to fund development projects. |
| A no vote was a vote against authorizing the city to issue $46,000,000 in bonds to fund infrastructure and development projects. |
Eight bond measures totaling $423.7 million were on the ballot in Garland, Texas, on May 4, 2019. City officials stated that approval of all eight bond measures would result in an annual tax increase of up to $0.085 per $100 in assessed property value. Officials also stated that the timeline for project completion would be between seven and 10 years.[1]
For links to the other bond measures, click here.
Election results
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Garland, Texas, Proposition F, Economic Development Bond Issue (May 2019) |
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|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
|
3,379 | 56.24% | ||
| No | 2,629 | 43.76% | ||
Text of measure
Ballot question
The ballot question was as follows:[2]
| “ |
Shall the City Council of the City of Garland, Texas, be authorized to issue general obligation bonds of the City in the principal amount of $46,000,000 for promoting economic development throughout the City, through planning, designing, constructing, improving, extending and expanding public street, utility, and other infrastructure facilities, including the acquisition of land therefor, and through the City’s programs for economic development, including the acquisition of improved and unimproved properties, the demolition of existing structures, making grants of bond proceeds and otherwise providing assistance for private commercial, industrial, retail, residential and mixed-use development, neighborhood revitalization projects, and mixed income development; such bonds to mature serially or otherwise over a period not to exceed FORTY (40) years from their date, to be issued and sold in one or more series at any price or prices and to bear interest at any rate or rates (fixed, floating, variable or otherwise) as shall be determined within the discretion of the City Council at the time of issuance or sale of the bonds; and whether ad valorem taxes shall be levied upon all taxable property in the City sufficient to pay the annual interest and provide a sinking fund to pay the bonds at maturity?[3] |
” |
Full text
The full text of the measure is available here.
Path to the ballot
This measure was put on the ballot through a vote of the Garland City Council on February 5, 2019.[2]
See also
External links
Footnotes
- ↑ https://www.garlandtx.gov/programs/2019_bond_program.asp Garland, TX, "2019 Bond Program," accessed April 18, 2019]
- ↑ 2.0 2.1 City of Garland, "Ordinance No. 7038," accessed April 6, 2019
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
