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PASSED
Somerset Public Improvement District No.1 2023 Capital Infrastructure & Facility Improvement Bond Proposition
May 2023 Somerset Public Improvement District No.1 Uniform General & Special Election • Canvassed on 2023-05-06
Official Certified Canvass Outcome
FOR: 171 (52.9%)AGAINST: 152 (47.1%)
Total Ballots Cast on Proposition: 323
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 Somerset Public Improvement District No.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 SOMERSET PUBLIC IMPROVEMENT DISTRICT NO.1, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.