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Proposition ACity of Memphis (Hall County)
PASSEDCity of Memphis 2003 Capital Infrastructure & Facility Improvement Bond Proposition
May 2003 City of Memphis Uniform General & Special Election • Canvassed on 2003-05-03
Official Certified Canvass Outcome
FOR: 214 (55.0%)AGAINST: 175 (45.0%)
Total Ballots Cast on Proposition: 389
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 City of Memphis 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 CITY OF MEMPHIS, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.