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FAILED
Driftwood Economic Development Municipal Management District 2015 Capital Infrastructure & Facility Improvement Bond Proposition
May 2015 Driftwood Economic Development Municipal Management District Uniform General & Special Election • Canvassed on 2015-05-02
Official Certified Canvass Outcome
FOR: 125 (49.0%)AGAINST: 130 (51.0%)
Total Ballots Cast on Proposition: 255
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 Driftwood Economic Development Municipal Management District 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 DRIFTWOOD ECONOMIC DEVELOPMENT MUNICIPAL MANAGEMENT DISTRICT, TEXAS, AND THE LEVYING OF A TAX IN PAYMENT THEREOF.