Carrollton holds bond election Nov. 6

by PegNews wire

CARROLLTON — The Carrollton City Council called a bond election for Tuesday, Nov. 6, during its regular meeting last Tuesday night.

The following propositions are on the ballot:

Proposition 1 “The issuance of $27,550,000 general obligations bonds for

Street improvements and traffic flow improvements”

Proposition 2 “The issuance of $9,200,000 general obligation bonds for

Drainage improvements”

Proposition 3 “The issuance of $3,950,000 general obligation bonds for

Public safety (police and fire) facilities”

Proposition 4 “The issuance of $6,350,000 general obligation bonds for

Park improvements”

Proposition 5 “The issuance of $3,400,000 general obligations bonds for

Governmental facilities including an animal shelter”

Proposition 6 “The issuance of $2,050,000 general obligation bonds for

Central service center improvements:

Proposition 7 “The issuance of $2,000,000 general obligation bonds for

Economic development incentives”

TOTAL GENERAL OBLIGATION BOND PROPOSITIONS $54,500,000

Voters may vote ‘for’ or ‘against’ each item. If the propositions are approved, funds for each proposition will be spent only as designated on the ballot.

There will be no tax increase. If Carrollton voters approve the seven propositions, general obligation bonds will be sold.

As explained by Bob Scott, assistant city manager and chief financial officer, anyone from an individual, to large insurance companies, to mutual funds, to other investors, can buy the bonds.

“Basically what happens is bonds are bought by an underwriter, who price and sell the bonds to an investor,” said Scott. “The investor receives interest and when the total amount is paid, the investor then receives the original price of the bond.”

If bonds are approved, they will be issued and backed by the ‘full faith and credit’ of the city. The debt is repaid through property tax.

Most Carrollton voters will be going to new polling locations during early voting and on the Nov. 6 Election Day. Details will be available in September, and voters should check their county’s Web site for details.

Those wishing to vote in the Nov. 6 bond election should note the following deadlines:

Friday, Sept. 7 First day to apply for ballot by mail

Tuesday, Oct. 9 Last day to submit voter registration application to

be eligible to vote

Oct. 22 – Nov. 2 Early Voting (locations to be determined)

Tuesday, Oct. 30 Last day to apply for ballot by mail

Tuesday, Nov. 6 Election Day – vote 7 a.m. to 7.p.m. (polling

Locations to be determined)

For more bond election information, voters may use the following resources:

www.cityofcarrollton.com (search ‘elections’)

City Election Hotline 972-466-3030

Voter Registration and Polling Locations: