Voters approve City's $550 Million Bond Program
On May 12, 2007, San Antonio voters approved five propositions that comprise the City of San Antonio’s $550 Million Bond Program. The program includes 151 projects designed to improve and enhance existing, as well as acquire or construct, new, local streets, bridges, sidewalks, drainage facilities, parks, athletics facilities, libraries and public health centers. All sides of San Antonio will benefit from projects proposed in the bond program. Many projects address infrastructure needs in a specific area while several projects have a regional or city-wide benefit for all residents.
The propositions supporting the bond program were approved by voters as follows:
Proposition 1 - Streets, Bridges and Sidewalks Improvements:
For: 75.99% | Against: 24.01%
Proposition 2 - Drainage Improvements:
For: 77.81% | Against: 22.19%
Proposition 3 - Parks, Recreation, Open Space, and Athletics Improvements:
For: 68.57% | Against: 31.43%
Proposition 4 - Library Improvements:
For: 74.02% | Against: 25.98%
Proposition 5 - Public Health Facilities Improvements:
For: 74.99% | Against: 25.01%
A majority of the projects were recommended by four Community Bond Committees, comprised of 128 residents, who utilized a comprehensive public participation process to obtain community input on potential projects to be incorporated into the program. Ninety-three percent of the Committees’ recommendations were adopted by City Council as part of the bond program put before voters.
The $550 million program is the largest municipal bond program in San Antonio history. The program can be achieved without a property tax rate increase due to San Antonio’s expected strong economic growth and the City’s disciplined debt management plan. The bonds will be repaid with property tax revenue the City collects on an annual basis. Bonds will be issued, and each project funded, over a five-year period (2007 through 2012). Several proposed projects combine City bond resources with other entity funding to complete needed improvements.
See a list of bond projects included within each approved proposition.
If you have questions regarding the City’s 2007-2012 Bond Program, look for Frequently Asked Questions for answers or call 207-7080 or 311.