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FAILED
Magnolia Pointe Municipal Utility District #1 2005 Capital Infrastructure & Facility Improvement Bond Proposition
May 2005 Magnolia Pointe Municipal Utility District #1 Uniform General & Special Election • Canvassed on 2005-05-07
Official Certified Canvass Outcome
FOR: 168 (47.1%)AGAINST: 189 (52.9%)
Total Ballots Cast on Proposition: 357
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 Magnolia Pointe 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 MAGNOLIA POINTE MUNICIPAL UTILITY DISTRICT #1, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.