2012 City of Farmersville Bond Election
The City of Farmersville will hold a bond election on Saturday, May 12, 2012, in conjunction with the scheduled General City Election for Mayor and Council.
Why do we have bond elections?
Bond elections allow voters to approve or reject long-term financing for major capital improvement projects in the City of Farmersville. Financing projects through bond authorizations allows the City to pay for improvements over 20 years. This method of financing allows for current and future citizens of the City of Farmersville to share the cost of improvements that benefit residents City-wide.
What are bonds?
Bonds are sold to borrow money to pay for needed major projects such as improvements to roadways, water and sewer infrastructure. The proposed bonds are general obligation bonds and will be repaid over the next twenty years from property taxes.
How and when do I vote?
The Bond Election was held May 12, 2012. For additional information about the Bond Election, contact the City Secretary at 972-782-6151.
How would a Bond package affect your property taxes?
The City anticipates the $3,575,000 Street Improvements and $2,400,000 Water and Sewer System Bonds will be sold as follows:
Year 2012 $1 Million
Year 2013 $2 Million
Year 2014 $2 Million
Year 2015 $975 Thousand
Assuming current Assessed Values in the City, the monthly impact on a $100,000 home would be as follows:
2013 $4.17 $4.17
2014 $8.34 $12.51
2015 $8.34 $20.85
2016 $4.06 $24.91
2012 City of Farmersville Bond Information Resources
Information pages on this website: