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Proposition ACUMBERLAND ACADEMY (Smith County)
PASSEDCUMBERLAND ACADEMY 2012 Capital Infrastructure & Facility Improvement Bond Proposition
May 2012 CUMBERLAND ACADEMY Uniform General & Special Election • Canvassed on 2012-05-05
Official Certified Canvass Outcome
FOR: 87 (56.1%)AGAINST: 68 (43.9%)
Total Ballots Cast on Proposition: 155
Authorized Bond Debt
$4.4M
Total 30-Yr Repayment
$6.7M
Estimated Tax Burden
+$28.50/yr
Per $100,000 of taxable home value
Watchdog Plain-English Breakdown
Authorizes CUMBERLAND ACADEMY to issue $4,400,000 in general obligation bond debt repaid through ad valorem property tax collections.
Official Statutory Ballot Language
THE ISSUANCE OF $4,400,000 OF GENERAL OBLIGATION BONDS FOR PUBLIC INFRASTRUCTURE, FACILITIES, AND CAPITAL IMPROVEMENTS FOR CUMBERLAND ACADEMY, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.