DALLAS — Voters in Frisco, Texas, would consider a $268 million bond package under a proposal drafted by a citizens bond committee and submitted to the City Council for final approval.
The council must make a final decision by Feb. 27 as to how much bond money to seek in the May 9 election.
The proposal includes $125 million for roads, $40 million to expand city hall, $40 million for fire department facilities, $11 million for parks and recreation, $10 million for a performing arts center, and $1.5 million for police facilities.
The city carried ratings of Aa1 from Moody's Investors Service, and AA-plus from Standard & Poor's on its last $143 million issue of general obligation bonds in July. That brought the city's debt to $662 million, according to Moody's.
The bond proposal would come a year after voters in the Frisco Independent School District approved $775 million of bonds to build 14 schools.
Frisco's population nearly tripled from 2000 to 2010 to 116,989 residents. Situated in the affluent suburbs north of Dallas, Frisco's median family income is 181% of the national average.
Fiscal year 2014 net taxable values grew 8.0% over the prior year to $15.9 billion from new property, according to Moody's.
