Officials in Georgetown said the passage of a $29.5 million general obligation bond proposal on May 14 would allow the city to replace outdated public service facilities and upgrade municipal operations.
City manager Paul Brandenburg said the new facilities would meet Georgetown’s needs through 2030. He said the current police station is too small, and the fire department is operating out of a building built in 1892.
The bonds would finance fire and police administrative offices, an emergency operations center, and a training building.
Georgetown officials plan to build a fifth fire station near the training facility with $9.9 million of certificates of obligation approved by the City Council in March.
If the bonds are approved the city property tax is expected to go up to 40.6 cents per $100 of valuation from the current 35.6 cents per $100.
The Williamson County Appraisal District said that would raise the annual tax on an average $183,169 residence by $91.58 a year.
Georgetown’s municipal debt is rated AA-plus by Fitch Ratings and Standard & Poor’s, and Aa3 by Moody’s Investors Service.
The city has $67.7 million of outstanding utility revenue debt. Georgetown also has $67 million of authorized but unissued bonds earmarked for street and park projects.
Georgetown is located in Williamson County, approximately 30 miles north of Austin.
