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Proposition ATown of South Padre Island (Cameron County)
PASSEDTown of South Padre Island 2017 Capital Infrastructure & Facility Improvement Bond Proposition
May 2017 Town of South Padre Island Uniform General & Special Election • Canvassed on 2017-05-06
Official Certified Canvass Outcome
FOR: 180 (57.9%)AGAINST: 131 (42.1%)
Total Ballots Cast on Proposition: 311
Authorized Bond Debt
$6.5M
Total 30-Yr Repayment
$9.9M
Estimated Tax Burden
+$28.50/yr
Per $100,000 of taxable home value
Watchdog Plain-English Breakdown
Authorizes Town of South Padre Island to issue $6,500,000 in general obligation bond debt repaid through ad valorem property tax collections.
Official Statutory Ballot Language
THE ISSUANCE OF $6,500,000 OF GENERAL OBLIGATION BONDS FOR PUBLIC INFRASTRUCTURE, FACILITIES, AND CAPITAL IMPROVEMENTS FOR TOWN OF SOUTH PADRE ISLAND, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.