Bond Election Overview

Two bond propositions will be on the November 4 ballot for City of Georgetown voters. In August, the City Council voted to put these two items on the ballot:

Proposition 1 is for authorization to issue up to $46 million in bonds for street and road projects.

Proposition 2 is for authorization to issue up to $35.5 million in bonds for parks and recreation projects.

If approved by the voters, bonds for the projects listed below could be issued in multiple series over a 10 to 15 year period, or longer. This means that, in effect, the City can take out loans to pay for these projects, and the loans must be paid back by Georgetown taxpayers. Passage or defeat of the bond propositions will not have an effect on the frozen tax payments of homeowners who are 65 years-of-age or older, or are disabled.

Total estimated cost for proposed parks and recreation bond projects, including issuance cost: $35.5 million

Combined estimated cost for Prop 1 road projects and Prop 2 parks and recreation projects: $81.5 million

Bond Project Timing

If approved by the voters, bonds would be issued in multiple series over a 10 to 15 year period, or longer. Road and parks projects would be phased over this period as bonding capacity allows (see Tax Impact and “Contract with the Voters” section below).

Other factors that affect the timing of projects include the environmental permitting process, availability of land, new residential or commercial developments, funding from Williamson County or TXDOT for some road projects, tax rate constraints, and other factors.

Project Cost Estimates

The total cost for each bond proposition is based on estimated costs for the proposed projects. Project scope or costs could change.