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PASSED
Somerset Public Improvement District No.1 2011 Capital Infrastructure & Facility Improvement Bond Proposition
May 2011 Somerset Public Improvement District No.1 Uniform General & Special Election • Canvassed on 2011-05-07
Official Certified Canvass Outcome
FOR: 242 (61.9%)AGAINST: 149 (38.1%)
Total Ballots Cast on Proposition: 391
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 Somerset Public Improvement District No.1 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 SOMERSET PUBLIC IMPROVEMENT DISTRICT NO.1, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.