Georgetown voters will decide on an $81.5 million general obligation bond package for roads and parks at the Nov. 4 election.
The two-part package approved by the City Council last week includes a $46 million proposal for roads and a $35.5 million parks proposal. Voters will decide separately on each request.
City finance director Micki Rundell said the fees and costs associated with selling the bonds in several tranches over the next few years brings the total cost for the bonds to $87 million.
Rundell said it was not clear if approval of the bonds would require an increase in the city’s property tax rate for fiscal 2009 of $3.562 per $1,000 of assessed valuation. The council could adopt a sales schedule to limit tax increases, she said.
Assessed valuation in Georgetown, which is located 30 miles north of Austin, is $4.1 billion, up 11% from 2007.
Georgetown’s GOs are rated Aa3 by Moody’s Investors Service and AA by Standard & Poor’s.