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PASSED
Overton Economic Development Corporation 2004 Capital Infrastructure & Facility Improvement Bond Proposition
May 2004 Overton Economic Development Corporation Uniform General & Special Election • Canvassed on 2004-05-01
Official Certified Canvass Outcome
FOR: 155 (57.0%)AGAINST: 117 (43.0%)
Total Ballots Cast on Proposition: 272
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 Overton Economic Development Corporation 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 OVERTON ECONOMIC DEVELOPMENT CORPORATION, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.