HomeMy WebLinkAboutIR 8899-To the Mayor and Members of the City Council
SUBJECT: Split Bond Election
The purpose of this report is to provide the City Council with information on the 2003 split borl
election in the City • Dallas. 0
The City of Dallas' 2003 Bond Election contained twelve propositions, two of which involved
streets. The first street proposition projected no tax increase. The second street proposition was
for specified street projects, and did anticipate a tax increase, subject to its passage. The
wording of the propositions was very similar, except that the second proposition included an
attached list of specified streets. Both propositions passed. However, had the second
proposition passed and the first failed, only those streets specifically listed in the attachment to
the proposition would have been eligible for improvements.
The City of Fort Worth could present similar propositions to the eligible voters in the proposeti
May 2008 Bond Election. Each of the propositions would be tied to specific projects.
Assuming available debt capacity, there is no legal impediment to pursuing either of the followi
bond proposals: I
May 2008:
a) A single proposition for street only improvements, with no tam
increase anticipated; OR
b) May 2008: Two separate propositions, with no tax increase
anticipated on one; and an anticipated tax increase on the second.
this Informal Report please contact Charlene Sanders-,
or Sandy Oliver, Assistant Director, Budget Department,
ISSUED BY- THE -01TY MANAGER FORT WORTH, TEXAS