CITY OF HOUSTON, TEXAS, BOND ELECTION AND LOCAL OPTION ELECTION, TUESDAY, NOVEMBER 7, 2017
The City of Houston, Texas, will conduct a Bond Election and Local Option Election on Tuesday, November 7, 2017, which will submit to the qualified voters of the City the following propositions:
CITY OF HOUSTON, PROPOSITION A Shall the City Council of the City of Houston, Texas, be authorized to issue bonds of the City, which may be called City of Houston, Texas, Pension Obligation Bonds in the amount of $1,010,000,000, maturing serially or otherwise at such times as may be fixed by the City Council, not to exceed 40 years from their date or dates and bearing interest at any rate or rates, either fixed, variable or floating, according to any clearly stated formula, calculation or method, not exceeding the maximum interest rate now or hereafter authorized by law, and to sell said bonds at any price or prices, all as shall be determined within the discretion of the City Council at the time of issuance, and to levy a tax upon all taxable property in the City annually sufficient to pay the principal of and interest on the bonds (together with any bonds that may be issued to refund the bonds) as it accrues or accretes, and to provide a sinking fund for the payment of the principal of the bonds (together with any bonds that may be issued to refund the bonds) as they mature, as well as all payments under any credit agreements, such tax to be levied without being limited by any provisions of the City's home rule charter limiting or otherwise restricting the City's combined ad valorem tax rates or combined revenues from all City operations, for the purpose of funding a portion of the unfunded liability of the City with respect to the Houston Police Officers' Pension System and the Houston Municipal Employees Pension System as contemplated by the pension reform plan contained in Senate Bill 2190 (adopted in the 85th (2017) Texas Legislature, Regular Session), and all matters necessary or incidental thereto?
Ballot Language for Proposition A: CITY OF HOUSTON, PROPOSITION A The issuance of $1,010,000,000 pension obligation bonds for the purpose of funding a portion of the unfunded liability of the City with respect to the Houston Police Officers' Pension System and the Houston Municipal Employees Pension System as contemplated by the pension reform plan contained in Senate Bill 2190 (adopted in the 85th (2017) Texas Legislature, Regular Session), and the levying of taxes sufficient for the payment thereof and interest thereon.
CITY OF HOUSTON, PROPOSITION B Shall the City Council of the City of Houston, Texas, be authorized to issue bonds of the City, which may be called City of Houston, Texas, Public Improvement Bonds in the amount of $159,000,000, maturing serially or otherwise at such times as may be fixed by the City Council, not to exceed 40 years from their date or dates and bearing interest at any rate or rates, either fixed, variable or floating, according to any clearly stated formula, calculation or method, not exceeding the maximum interest rate now or hereafter authorized by law, and to sell said bonds at any price or prices, all as shall be determined within the discretion of the City Council at the time of issuance, and to levy a tax upon all taxable property in the City annually sufficient to pay the principal of and interest on the bonds (together with any bonds that may be issued to refund the bonds) as it accrues or accretes, and to provide a sinking fund for the payment of the principal of the bonds (together with any bonds that may be issued to refund the bonds) as they mature, as well as all payments under any credit agreements, such tax to be levied without being limited by any provisions of the City's home rule charter limiting or otherwise restricting the City's combined ad valorem tax rates or combined revenues from all City operations, for the purpose of the acquisition, construction, rehabilitation and equipping of public safety permanent improvements for or benefiting the police and fire departments and department facilities, which may include joint facilities with other political subdivisions, the acquisition of lands and rights-of-way for any of such improvements and for other public safety purposes of such departments, and all matters necessary or incidental thereto?
Ballot Language for Proposition B:
CITY OF HOUSTON, PROPOSITION B The issuance of $159,000,000 public safety improvement bonds for the acquisition, construction, rehabilitation and equipment of public safety permanent improvements for the police and fire departments and the levying of taxes sufficient for the payment thereof and interest thereon.
CITY OF HOUSTON, PROPOSITION C Shall the City Council of the City of Houston, Texas, be authorized to issue bonds of the City, which may be called City of Houston, Texas, Public Improvement Bonds in the amount of $104,000,000, maturing serially or otherwise at such times as may be fixed by the City Council, not to exceed 40 years from their date or dates and bearing interest at any rate or rates, either fixed, variable or floating, according to any clearly stated formula, calculation or method, not exceeding the maximum interest rate now or hereafter authorized by law, and to sell said bonds at any price or prices, all as shall be determined within the discretion of the City Council at the time of issuance, and to levy a tax upon all taxable property in the City annually sufficient to pay the principal of and interest on the bonds (together with any bonds that may be issued to refund the bonds) as it accrues or accretes, and to provide a sinking fund for the payment of the principal of the bonds (together with any bonds that may be issued to refund the bonds) as they mature, as well as all payments under any credit agreements, such tax to be levied without being limited by any provisions of the City's home rule charter limiting or otherwise restricting the City's combined ad valorem tax rates or combined revenues from all City operations, for the purpose of the conservation, improvement, acquisition, construction and equipment of neighborhood parks, recreational facilities and bayous, including such green spaces along all bayous to create an integrated system of bayou walking, running and bicycle trails, which includes the acquisition of land, conservation easements and rights-of-way for the enhancement, preservation and protection of the health of its citizens, water quality, natural habitat and native wildlife, and which may include joint facilities and/or improvements with other political subdivisions that are owned by or benefit the City, and all matters necessary or incidental thereto?
Ballot Language for Proposition C:
CITY OF HOUSTON, PROPOSITION C The issuance of $104,000,000 park improvement bonds for the conservation, improvement, acquisition, construction and equipment of neighborhood parks, recreational facilities and bayous, including such green spaces along all bayous to create an integrated system of bayou walking, running and bicycle trails to enhance, preserve and protect the health of citizens, water quality, natural habitat and native wildlife and the levying of taxes sufficient for the payment thereof and interest thereon.
CITY OF HOUSTON, PROPOSITION D Shall the City Council of the City of Houston, Texas, be authorized to issue bonds of the City, which may be called City of Houston, Texas, Public Improvement Bonds in the amount of $109,000,000, maturing serially or otherwise at such times as may be fixed by the City Council, not to exceed 40 years from their date or dates and bearing interest at any rate or rates, either fixed, variable or floating, according to any clearly stated formula, calculation or method, not exceeding the maximum interest rate now or hereafter authorized by law, and to sell said bonds at any price or prices, all as shall be determined within the discretion of the City Council at the time of issuance, and to levy a tax upon all taxable property in the City annually sufficient to pay the principal of and interest on the bonds (together with any bonds that may be issued to refund the bonds) as it accrues or accretes, and to provide a sinking fund for the payment of the principal of the bonds (together with any bonds that may be issued to refund the bonds) as they mature, as well as all payments under any credit agreements, such tax to be levied without being limited by any provisions of the City's home rule charter limiting or otherwise restricting the City's combined ad valorem tax rates or combined revenues from all City operations, for the purpose of the acquisition, construction, rehabilitation, remediation and equipment of permanent public improvements owned and operated by the City that support public health and wellness, sanitation and other essential governmental and general services of the City, which may include joint facilities with other political subdivisions, and acquiring lands and rights-of-way for such permanent improvements, and all matters necessary or incidental thereto?
Ballot Language for Proposition D:
CITY OF HOUSTON, PROPOSITION D The issuance of $109,000,000 public facility improvement bonds for the acquisition, construction, rehabilitation, remediation and equipment of permanent improvements that support public health and wellness, sanitation and other essential governmental and general services of the City and the levying of taxes sufficient for the payment thereof and interest thereon.
CITY OF HOUSTON, PROPOSITION E Shall the City Council of the City of Houston, Texas, be authorized to issue bonds of the City, which may be called City of Houston, Texas, Public Improvement Bonds in the amount of $123,000,000, maturing serially or otherwise at such times as may be fixed by the City Council, not to exceed 40 years from their date or dates and bearing interest at any rate or rates, either fixed, variable or floating, according to any clearly stated formula, calculation or method, not exceeding the maximum interest rate now or hereafter authorized by law, and to sell said bonds at any price or prices, all as shall be determined within the discretion of the City Council at the time of issuance, and to levy a tax upon all taxable property in the City annually sufficient to pay the principal of and interest on the bonds (together with any bonds that may be issued to refund the bonds) as it accrues or accretes, and to provide a sinking fund for the payment of the principal of the bonds (together with any bonds that may be issued to refund the bonds) as they mature, as well as all payments under any credit agreements, such tax to be levied without being limited by any provisions of the City's home rule charter limiting or otherwise restricting the City's combined ad valorem tax rates or combined revenues from all City operations, for the purpose of the acquisition, construction, rehabilitation and equipping the public library system, which may include joint facilities with other political subdivisions, the acquisition of lands and rights-of-way for such improvements and all matters necessary or incidental thereto?
Ballot Language for Proposition E:
CITY OF HOUSTON, PROPOSITION E The issuance of $123,000,000 library improvement bonds for the acquisition, construction, rehabilitation and equipment of the public library system and the levying of taxes sufficient for the payment thereof and interest thereon. Only registered voters of the City of Houston residing in the area formerly known as the City of Houston Heights as it existed on February 19, 1918, will vote "For" or "Against" for the following proposition:
CITY OF HOUSTON, PROPOSITION F (Relating to the area formerly known as the City of Houston Heights as it existed on February 19, 1918.) The legal sale of mixed beverages.
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