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FAILED
Galveston County Drainage District No. 2 2005 Capital Infrastructure & Facility Improvement Bond Proposition
May 2005 Galveston County Drainage District No. 2 Uniform General & Special Election • Canvassed on 2005-05-07
Official Certified Canvass Outcome
FOR: 258 (49.0%)AGAINST: 269 (51.0%)
Total Ballots Cast on Proposition: 527
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 Galveston County Drainage District No. 2 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 GALVESTON COUNTY DRAINAGE DISTRICT NO. 2, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.