UPDATED: Carrollton passes seven-part bond election

by PegNews wire

CARROLLTON — UPDATED: Funds will support street and drainage improvements, public safety, parks, an animal shelter, central services, and economic development. For complete Dallas County election results, link here.

A seven proposition bond election will be part of items up for voter consideration during the November 6 general election.

Propositions on the ballot include:

Proposition 1 “The issuance of $27,550,000 general obligation 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 obligation bonds for 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 have the option of voting ‘for’ or ‘against’ each item up for consideration. If approved, funds will be spent only for the purposes listed on the ballot. For example, Proposition 1 funding can only be used for street related improvements.

No Tax Increase

The bond propositions were developed to require no tax rate increase. If approved by voters, the seven propositions allow the city to sell general obligation bonds.

General obligation bonds are sold to investors by the city to raise money, in this case, for capital improvement projects. If the bonds are approved, they will be issued and backed by the ‘full faith and credit’ of the city. Debt service is repaid from proceeds of a continuing direct ad valorem tax levied within the limits prescribed by law, against all taxable property within the city.

The last general obligation bond election for infrastructure was held May 15, 2004. Carrollton voters approved the six bond propositions with an average approval rate of 88 percent.

Election Has New Locations, Deadlines to Observe

Some Carrollton voters will be going to new polling locations during on the November 6, 2007 Election Day. Voters should check their county’s web site for particulars.

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

Tuesday, October 9 Last day to submit voter registration application to be eligible to vote

October 22- November 2 Early Voting

Tuesday, October 30 Last day to apply for ballot by mail

Tuesday, November 6 Election Day – vote 7 a.m. to 7 p.m.

Voters’ guides are available at city facilities. For more bond election information, voters may use the following resources:

www.cityofcarrollton.com (search ‘elections’)

City Election Hotline 972-466-3030

Denton County Residents 972-349-3200

Denton Polling Locations

Dallas County Residents 214-637-7937

214-819-6300