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Proposition ACity of Sherman (Grayson County)
PASSEDCity of Sherman 2003 Capital Infrastructure & Facility Improvement Bond Proposition
May 2003 City of Sherman Uniform General & Special Election • Canvassed on 2003-05-03
Official Certified Canvass Outcome
FOR: 3,251 (56.0%)AGAINST: 2,555 (44.0%)
Total Ballots Cast on Proposition: 5,806
Authorized Bond Debt
$22.2M
Total 30-Yr Repayment
$33.7M
Estimated Tax Burden
+$28.50/yr
Per $100,000 of taxable home value
Watchdog Plain-English Breakdown
Authorizes City of Sherman to issue $22,200,000 in general obligation bond debt repaid through ad valorem property tax collections.
Official Statutory Ballot Language
THE ISSUANCE OF $22,200,000 OF GENERAL OBLIGATION BONDS FOR PUBLIC INFRASTRUCTURE, FACILITIES, AND CAPITAL IMPROVEMENTS FOR CITY OF SHERMAN, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.