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FAILED
Lubbock Business Park Tax Increment Reinvestment Zone 2003 Capital Infrastructure & Facility Improvement Bond Proposition
May 2003 Lubbock Business Park Tax Increment Reinvestment Zone Uniform General & Special Election • Canvassed on 2003-05-03
Official Certified Canvass Outcome
FOR: 139 (48.1%)AGAINST: 150 (51.9%)
Total Ballots Cast on Proposition: 289
Authorized Bond Debt
$1.5M
Total 30-Yr Repayment
$2.3M
Estimated Tax Burden
+$28.50/yr
Per $100,000 of taxable home value
Watchdog Plain-English Breakdown
Authorizes Lubbock Business Park Tax Increment Reinvestment Zone to issue $1,500,000 in general obligation bond debt repaid through ad valorem property tax collections.
Official Statutory Ballot Language
THE ISSUANCE OF $1,500,000 OF GENERAL OBLIGATION BONDS FOR PUBLIC INFRASTRUCTURE, FACILITIES, AND CAPITAL IMPROVEMENTS FOR LUBBOCK BUSINESS PARK TAX INCREMENT REINVESTMENT ZONE, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.