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Proposition AMAGNOLIA ISD (Montgomery County)
PASSEDMAGNOLIA ISD 2002 Capital Infrastructure & Facility Improvement Bond Proposition
May 2002 MAGNOLIA ISD Uniform General & Special Election • Canvassed on 2002-05-04
Official Certified Canvass Outcome
FOR: 1,851 (57.0%)AGAINST: 1,396 (43.0%)
Total Ballots Cast on Proposition: 3,247
Authorized Bond Debt
$25.5M
Total 30-Yr Repayment
$38.8M
Estimated Tax Burden
+$28.50/yr
Per $100,000 of taxable home value
Watchdog Plain-English Breakdown
Authorizes MAGNOLIA ISD to issue $25,500,000 in general obligation bond debt repaid through ad valorem property tax collections.
Official Statutory Ballot Language
THE ISSUANCE OF $25,500,000 OF GENERAL OBLIGATION BONDS FOR PUBLIC INFRASTRUCTURE, FACILITIES, AND CAPITAL IMPROVEMENTS FOR MAGNOLIA ISD, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.