PORT ISABEL — In addition to state and local elections, voters headed to the polls this Election Day can expect to find one for the city’s proposed bond issue.
Here’s a breakdown of the different propositions.
The bonds would fund 14 street improvements as well as other improvements along Highway 100, such as new signage and landscaping along Highway 100 as part of the city’s Beautification Master Plan.
This proposition is estimated to cost $4.1 million and is the highest expenditure out of the three propositions.
Voters will indicate whether they are “for” or “against” each proposition on the ballot.
This proposition would cover the cost of improvements to city buildings, such as city hall, fire station and police station. Additionally, it would pay for the construction of a new public works barn and the renovation of the exiting public works facility to house Emergency Medical Services.
The maximum cost for this project is $750,000.
The project includes installing a pavilion at Washington Park, expansion of Laguna Madre Park, such as renovated playing fields, stands, restrooms, parking and an access road. Additionally, it would cover the cost of repairing and expanding the Youth Center Building.
The maximum cost for this project is $1.1 million.
According to the Capital Project Planning Committee Report, there would be an increased tax rate of 7 cents per $100 valuation, or less on the debt authorized under the bond election. As debt is paid down or valuations increase, the rate would decrease. The total amount of bonds authorized would not be issued at the same time. City officials anticipate the debt of the bonds would be issued over the span of 10 to 15 years.
City: The need
Port Isabel City Manager Jared Hockema said these projects are critical and are in urgent need to be completed and city officials believe the proposed bond is the most cost effective and timely manner to complete the projects.
According to the Capital Project Planning Committee Report, the city has been working to reduce expenses and increase revenues to reduce their financial problems.
The report states, revenues generated by the city’s rate are not ample to fund improvements or to service additional debt without a tax increase.
According to the report, if city officials issue debt through a separate tax rate, the city will be establishing a dedicated revenue source for repayment, which will allow the general fund to continue its recovery.
What you should know
Capital Project Planning Committee Report — http://portisabel-texas.com/cityhall/wp-content/uploads/2010/03/2018_bond-election-report.pdf
Frequently asked questions — http://portisabel-texas.com/cityhall/wp-content/uploads/2010/03/2018_bond-election-faq.pdf