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Proposition ATown of Mount Vernon (Franklin County)
FAILEDTown of Mount Vernon 2005 Capital Infrastructure & Facility Improvement Bond Proposition
May 2005 Town of Mount Vernon Uniform General & Special Election • Canvassed on 2005-05-07
Official Certified Canvass Outcome
FOR: 122 (49.2%)AGAINST: 126 (50.8%)
Total Ballots Cast on Proposition: 248
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 Town of Mount Vernon 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 TOWN OF MOUNT VERNON, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.