Proposition G – Transportation Infrastructure
Proposition G is about funding transportation infrastructure improvements.
Specifically, the city wants to be able to:
- Improve roads, streets, intersections, sidewalks, bridges, urban trails, and related utility and drainage infrastructure.
- Install & improve traffic signals and their synchronization and control systems.
In order to fund these activities, the city is proposing an issuance
of
See also
- City of Austin’s Bond Brochure Booklet for Proposition G
- 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 transportation and mobility purposes, to wit: planning, designing, constructing, reconstructing, equipping and improving roads, streets, intersections, sidewalks, bridges, urban trails, and related utility and drainage infrastructure; improving traffic signal synchronization and communications and control systems; acquiring and installing traffic signals and related technology; 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 $160,000,000, 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?