The Rockwall, Texas, City Council last week set an election for May 12 on a $59 million, four-part general obligation bond program that includes a $25.1 million athletic complex.
The bond program in the Dallas suburb also includes $19 million of street projects, $10.2 million of downtown improvements and $4.9 million for park work.
The 162-acre complex would include nine baseball fields, three softball fields, and two synthetic turf fields. Other attractions would include a large pavilion and four playgrounds.
The city said if there is no growth in property assessments from the current $3.1 billion, the bonds could require an increase in the tax rate to $6.59 per $1,000 of valuation from the current $5.03 per $1,000.
The athletic complex would also include two soccer enclave areas with a variety of field sizes, a large football-soccer practice area, four playgrounds, a large pavilion, and concession and restroom facilities.
The Rockwall City Council considered a similar proposal last year but declined to set a bond election for November 2011.
The city’s $152.4 million of outstanding debt is rated Aa2 by Moody’s Investors Service.
