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Proposition ACity of New Summerfield (Cherokee County)
PASSEDCity of New Summerfield 2003 Capital Infrastructure & Facility Improvement Bond Proposition
May 2003 City of New Summerfield Uniform General & Special Election • Canvassed on 2003-05-03
Official Certified Canvass Outcome
FOR: 90 (62.9%)AGAINST: 53 (37.1%)
Total Ballots Cast on Proposition: 143
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 City of New Summerfield 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 CITY OF NEW SUMMERFIELD, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.