What is a bond program?
The Citizens of Dallas authorize the City Council to issue debt to finance capital construction projects (these are generally large projects with a useful life of at least twenty years or extend to the life of the bonds). The debt is issued in the form of bonds which are governed by specific laws. Citizens vote to accept a bond package listing specific projects with requested funds. Each year the City Council determines what bonds will be issued for that year.
What is included in a bond program?
Bond Programs generally include Street Improvement projects, Flood Protection and Storm Drainage projects, and Facilities Improvement projects such as Recreation Centers and Libraries. Special Projects (such as the Zoo and Hike and Bike Trails) can be included. Economic Development projects and Public Health/Safety projects (such as ADA mandates, police facilities and fire stations) may also be included.
What cannot be included?
Projects that have a useful life expectancy LESS than the life of the bonds issued cannot be included. Examples of these would be: equipment and vehicles, street and traffic signage, leased space improvements, and code enforcement initiatives.
How are projects selected for a bond program?
Projects are identified through requests from citizens and City Council members, review of prior unfunded needs, petitioned projects, condition of the City's infrastructure, and needs identified in Council adopted or endorsed plans (for example, the thoroughfare plan).
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