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Proposition ACity of Magnolia (Montgomery County)
FAILEDCity of Magnolia 2011 Capital Infrastructure & Facility Improvement Bond Proposition
May 2011 City of Magnolia Uniform General & Special Election • Canvassed on 2011-05-07
Official Certified Canvass Outcome
FOR: 170 (50.0%)AGAINST: 170 (50.0%)
Total Ballots Cast on Proposition: 340
Authorized Bond Debt
$3.3M
Total 30-Yr Repayment
$5.0M
Estimated Tax Burden
+$28.50/yr
Per $100,000 of taxable home value
Watchdog Plain-English Breakdown
Authorizes City of Magnolia to issue $3,300,000 in general obligation bond debt repaid through ad valorem property tax collections.
Official Statutory Ballot Language
THE ISSUANCE OF $3,300,000 OF GENERAL OBLIGATION BONDS FOR PUBLIC INFRASTRUCTURE, FACILITIES, AND CAPITAL IMPROVEMENTS FOR CITY OF MAGNOLIA, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.