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Proposition ATown of Northlake (Denton County)
FAILEDTown of Northlake 2012 Capital Infrastructure & Facility Improvement Bond Proposition
May 2012 Town of Northlake Uniform General & Special Election • Canvassed on 2012-05-05
Official Certified Canvass Outcome
FOR: 577 (47.0%)AGAINST: 651 (53.0%)
Total Ballots Cast on Proposition: 1,228
Authorized Bond Debt
$5.2M
Total 30-Yr Repayment
$7.9M
Estimated Tax Burden
+$28.50/yr
Per $100,000 of taxable home value
Watchdog Plain-English Breakdown
Authorizes Town of Northlake to issue $5,200,000 in general obligation bond debt repaid through ad valorem property tax collections.
Official Statutory Ballot Language
THE ISSUANCE OF $5,200,000 OF GENERAL OBLIGATION BONDS FOR PUBLIC INFRASTRUCTURE, FACILITIES, AND CAPITAL IMPROVEMENTS FOR TOWN OF NORTHLAKE, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.