|Ballot Proposition||The issuance of public securities in an amount not to exceed $8,000,000 for new senior activity center at Johnson Road Park.
|Proposición||La emisión de valores públicos por un monto que no exceda de $8.000.000 para un nuevo centro de actividades para adultos mayores en Johnson Road Park.|
|If I vote FOR||The city will issue up to $8 million in bonds.
|If I vote AGAINST||The city will not issue up to $8 million in bonds.
|Tax Consequences||The bonds will have no impact on tax rates.
|What is a Bond?||A bond is essentially an IOU. Instead of going to a bank to get a loan, like an individual might do, governments can issue bonds to raise money for specific projects. An investor buys a bond on the understanding that they will be paid back, in full and with interest, on a set date (limited by law to 40 years). In most cases, governments must seek voter approval to issue a bond.
|Proposed Improvements||The proposed Senior Center is envisioned as follows:
A multi-purpose facility, 23,304 sq ft, serving residents 55 years and older
Space for classrooms, crafts and hobbies, events, games, senior-focused fitness activities
Will replace the existing Senior Activities Center, 4,236 sq ft, built in 1990
Additional parking will be constructed at Johnson Road Park to the west and north of the existing playground
The total project cost is estimated at $9.6 million ($8 million from bond, if approved; 1.6 million from city’s General Fund.
|Resources||City of Keller, Senior Activities Center November 2018 Election
|Recent News Articles||“Keller senior center growth spurs needs study,” Fort Worth Star-Telegram (Feb 21, 2017)