Proposition C – Public Parks & Recreation
Proposition C is about funding “public parks, recreation centers, natural areas, and other related facilities” like pools, hike and bike trails, and parking for those things.
The city wants to be able to:
- Plan, acquire, construct, renovate, improve and equip such facilities
- Buy land in pursuit of those goals
- Take out loans to support those activities
In order to fund these activities, the city is proposing an issuance
of
See also
- City of Austin’s Bond Brochure Booklet for Proposition C
- How do city bonds work and how are they funded?
Original city notice
Shall the City Council of the City of Austin, Texas, be authorized to issue general obligation bonds and notes of the City for park and recreation purposes, to wit: planning, designing, acquiring, constructing, renovating, improving and equipping public parks, recreation centers and other park buildings and infrastructure, natural areas, and other related facilities, including, without limitation, playgrounds, hike and bike trails, athletic fields, swimming pools, sports and aquatics facilities, and related parking lot and roadway infrastructure; acquiring land and interests in land and property necessary for such purposes; and all matters necessary or incidental thereto; with the bonds and notes to be issued in one or more series or issues, in the aggregate principal amount of $149,000,000, to mature serially or otherwise and bear interest at a rate or rates not to exceed the respective limits prescribed by law at the time of issuance, and to be sold at the price or prices as the City Council determines and shall there be levied and pledged, assessed, and collected annually ad valorem taxes on all taxable property in the City in an amount sufficient, within the limits prescribed by law, to pay the annual interest on the bonds and notes and to provide a sinking fund to pay the bonds and notes at maturity?