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Proposition AVelasco Drainage District (Brazoria County)
PASSEDVelasco Drainage District 2016 Capital Infrastructure & Facility Improvement Bond Proposition
May 2016 Velasco Drainage District Uniform General & Special Election • Canvassed on 2016-05-07
Official Certified Canvass Outcome
FOR: 267 (56.1%)AGAINST: 209 (43.9%)
Total Ballots Cast on Proposition: 476
Authorized Bond Debt
$4.6M
Total 30-Yr Repayment
$7.0M
Estimated Tax Burden
+$28.50/yr
Per $100,000 of taxable home value
Watchdog Plain-English Breakdown
Authorizes Velasco Drainage District to issue $4,600,000 in general obligation bond debt repaid through ad valorem property tax collections.
Official Statutory Ballot Language
THE ISSUANCE OF $4,600,000 OF GENERAL OBLIGATION BONDS FOR PUBLIC INFRASTRUCTURE, FACILITIES, AND CAPITAL IMPROVEMENTS FOR VELASCO DRAINAGE DISTRICT, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.