Dallas City Bond Election, Proposition D - Flood Protection & Storm Drainage
Includes nearly a hundred flood protection, storm drainage and erosion control projects throughout the city including the Vinemont Channel Improvement Project. Less than a third of the drainage bonds authorized in 2012 have been issued; however approximately $200 million of the 2012 authorization is scheduled to be issued this December for a Mill Creek project. The previous authorization in 2006 has been mostly issued. (For detail see www.dallasbond.com )Total project cost: $48.75 Million.
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Yes - For the Measure
No - Against the Measure
• The majority of needs are associated with areas developed long ago to inadequate standards (1890s - 1940s with 0-5 year standards and 1940s – 1970s with 5 -100 year standards). Modern standard is for 100 years. The primary focus is public safety and erosion control.
• The city’s bond rating agency reports that the city’s debt is manageable and some relief for the beleaguered police and fire pension fund was provided by the state legislature this spring, alleviating concerns about financial stability. The city will pledge to raise taxes sufficient to pay debt service but does not expect to need to increase property taxes for this authorization. Bonds will be issued over the next several years as needed. The portion of the tax rate used to pay off debt and the overall tax rate have declined slightly in recent years.
• The city of Dallas property tax rate is higher than that of most cities in Dallas County, and is significantly higher than that of Plano, somewhat higher than that of Arlington and slightly lower than that of Fort Worth. A relatively high tax rate means a city has to compete harder to attract and retain business.
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