|Ballot proposition||The issuance of $49,875,000 of CIty of North Richland Hills, Texas general obligation bonds for streets, roads, sidewalks, trails and related utility and drainage improvements, the acquisition of real property necessary or incidental for such purposes and the levying of taxes sufficient to pay the principal of and interest on the bonds will be imposed.
La emisión de $49,875,000 en bonos de obligación de la ciudad de North Richland Hills, Texas para calles, caminos, aceras, senderos y mejoras de servicios públicos y drenaje relacionados y la compra de bienes inmuebles necesarios o secundarios para dichos fines, y la imposición de impuestos suficientes para pagar el capital y los intereses de los bonos que se impondrán.
|If I vote FOR||The city of North Richland Hills can issue $49.875 million in bonds for street construction projects.|
|If I vote AGAINST||City of North Richland Hills cannot issue $49.875 in bonds.|
|Tax consequences||According to the city, If voters approve the proposition, it’s projected that property owners won’t see a tax rate increase to pay down the city’s debt.
|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.|
|What projects would this bond cover?||If approved by voters, plans are for 27 streets to be reconstructed including all or parts of: Bedford-Euless Road, Glenview Drive, Iron Horse Boulevard, Lariat Trail, Main Street, Windhaven Road, Harmonson Road, North Richland Boulevard, Chapman Road, Noreast Drive, Ruth Road, North Hills Drive, Meadow Oak Drive, Diamond Loch West, Pearl Street, Southampton Drive, Stonybrooke Drive, Dawn Drive, Nob Hill Drive, Kirk Lane, Wood View Drive, South Crest Drive, Sierra Drive, Crystal Lane, Daniel Drive, Lake Side Circle, and Post Oak Drive.
Combined, these streets total 24.7 lane miles, carrying more than 73,000 cars per day. For a map of these projects, see https://www.nrhtx.com/1111/Bond-Election---May-2-2020.
|Background||The last time North Richland Hills held a bond election for street improvements was in 2003. Projects were recommended by 2020 Capital Program Advisory Committee, which was made up of 35 local citizens.
The 2020 Capital Program Advisory Committee considered several factors when prioritizing and recommending street projects including existing pavement conditions, traffic volumes, maintenance records, input from citizens surveys and estimated costs.
|Resources||City of North Richland Hills, “Bond Election for NRH Streets,” https://www.nrhtx.com/1111/Bond-Election---May-2-2020|