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PASSED
Grand Lakes Municipal Utility District #1 2014 Capital Infrastructure & Facility Improvement Bond Proposition
May 2014 Grand Lakes Municipal Utility District #1 Uniform General & Special Election • Canvassed on 2014-05-03
Official Certified Canvass Outcome
FOR: 286 (56.1%)AGAINST: 224 (43.9%)
Total Ballots Cast on Proposition: 510
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 Grand Lakes Municipal Utility District #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 GRAND LAKES MUNICIPAL UTILITY DISTRICT #1, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.