NEW YORK – Voters in Texas approved propositions that will allow the Texas Water Development Board to issue additional bonds as long as no more than $6 billion are outstanding at any one time and issuance of up to $1.86 billion of general obligation bonds to finance the long-standing Hinson-Hazelwood College Student Loan Program.
The Water Development Board nearly ran out of bonding authority. The student loan program provides low-interest loans to students who aren’t able to finance the full cost of college through other sources.
Voters rejected Proposition 4, which would have allowed counties the same authority as cities and towns to issue bonds to finance the development of underdeveloped or blighted areas. But voters approved Proposition 6, which provides more funding for public education through accounting changes in the Permanent School Fund and State Land Board. It also authorizes up to $300 million a year to be transferred directly from the Land Board to the Available School Fund.
Arkansas voters appeared to be approving the sale of $575 million Garvee bonds, which would pay for repair and upgrade of more than 400 miles of Interstate highway.
But the San Mateo County Community College District, Calif.’s $564 million proposal to upgrade and improve the school fell short of the 55% approval needed for passage.
San Francisco voters approved $531 million of bonds to upgrade the San Francisco Unified School District, and $248 million for street and road projects.
Back in Texas, North East Independent School District voters backed the district’s request for $399.4 million of bonds. Pasadena ISD voters threw their support to $270.1 million of bonds to pay for additions, buses, technology and upgrades. Lamar Consolidated ISD voters said “yes” to $249.2 million bonds for construction, upgrades and renovations. Montgomery County voters appear to have rejected $200 million of road bonds. Mansfield ISD voters signed off on the sale of $198.5 million bonds, by a 55% to 45% margin, according to reports. Boerne ISD voters rejected the three-part $87.8 million bond measure.
Fairfax County, Va., nearly 70% of voters were in favor of a $252.8 million school improvement bond issue, while in Loudoun County, about 58% of voters supported the $169.6 million bond request.
Phoenix Union High School District voters approved a $230 million bond request. Paradise Valley USD voters also supported a $203 million bond vote. Sunnyside USD 12’s $88 million bond measure was receiving 55% support, according to reports.
The latest results reported for the Alpine School District in Utah, showed the bonds ahead, although passage was not assured.
In Sioux Falls, S.D., voters approved construction of a $115 million bond-back multipurpose events center.
Philadelphia voters approved a ballot measure calling for $111.3 million of bonds.
