On February 16, the City Council called for the 2012 – 2017 General Obligation Bond Program election to be held on May 12, 2012. Residents will vote on five individual propositions including: (1) Streets, Bridges, & Sidewalks Improvements, (2) Drainage & Flood Control Improvements, (3) Parks, Recreation, & Open Space Improvements, (4) Library, Museum, & Cultural Arts Facilities Improvements, and (5) Public Safety Facilities Improvements. Collectively, these propositions contain 140 projects totaling $596 million.
A City of San Antonio property tax rate is not recommended to fund the proposed 2012 – 2017 Bond Program. The City’s current property tax rate is projected to be sufficient to fund the debt service payments for the program. The proposed 2012 – 2017 Bond Program does not include funding or projects for VIA’s streetcar project.
The City of San Antonio continues making progress on the 2007-2012 Bond Program, with substantial completion scheduled for June 2012. The 2007-2012 Bond Program is 96 percent complete or under construction.
Due to a favorable bidding environment and proper planning, organizational structure, and oversight, the 2007-2012 Bond realized $47 million in savings, which are being used for City Council-approved street, drainage, and park infrastructure projects across the city.
For more information, please visit www.sanantonio.gov/2012Bond.