Proposition D – Flood Mitigation & Water Quality
Proposition D is about funding “flood mitigation and control, erosion control, water quality, water quantity, and storm-water drainage.”
The city wants to be able to:
- Install improvements and facilities for flood control, erosion control, water quality, and storm-water drainage.
- Acquiring land and open spaces for conservation and preservation.
In order to fund these activities, the city is proposing an issuance
of
See also
- City of Austin’s Bond Brochure Booklet for Proposition D
- 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 the public purposes of planning, designing, acquiring, constructing, and installing improvements and facilities for flood mitigation and control, erosion control, water quality, water quantity, and storm-water drainage and acquiring land, open spaces and interests in land and property for the conservation, preservation and protection of natural areas and the region’s water quality; 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 $184,000,000, 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?