Breaking Down the Bonds: Proposition 1 - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Breaking Down the Bonds: Proposition 1

Source: KFDA Source: KFDA
Source: KFDA Source: KFDA
Source: KFDA Source: KFDA
Source: KFDA Source: KFDA
Source: KFDA Source: KFDA
AMARILLO, TX (KFDA) -

If you're an Amarillo voter, when you head to the polls for the November 8th election, you'll see 7 city bond propositions at the end of the ballot.

They have similar wording, but all stand for very different things.

Let's start by looking into what Proposition 1 entails.

This is the exact wording you'll see on your ballot:

PROPOSITION NUMBER 1

 “SHALL the City Council of the City of Amarillo, Texas, be authorized to issue general obligation bonds of the City in the principal amount of $89,495,000 for permanent public improvements and public purposes, to wit: acquiring, constructing, improving and maintaining streets, thoroughfares, alleyways and sidewalks within the City including related storm drainage improvements, traffic signalization and signage, street lighting, traffic management equipment, creek erosion, bridge and culvert improvements and utility relocations and the acquisition of land therefor, such bonds to mature serially or otherwise over a period not to exceed twenty-five (25) years from their date, to be issued and sold in one or more series at any price or prices and to bear interest at any rate or rates (fixed, floating, variable or otherwise) as shall be determined within the discretion of the City Council at the time of issuance or sale of the bonds; and whether ad valorem taxes shall be levied upon all taxable property in the City sufficient to pay the annual interest and provide a sinking fund to pay the bonds at maturity?”

What you need to take from this is voting in favor of Proposition 1 is voting for an $89,495,000 bond that would go toward maintaining, repairing and constructing new and existing streets in Amarillo.

Proposition 1 is the most expensive of all the propositions.

There are 29 projects included in Proposition 1, and you can see all of them on pages 2-30 of this document.

You can see them broken down by price below:

Projects range from sealcoating and microsurfacing roads, to reconstructing roads where maintenance would "no longer be successful," and building new roads to accommodate for Amarillo's growth.

These would yield construction on up to 80 streets and roads, according to city engineer Kyle Schniederjan.

He and his team have the projects prioritized to begin with road maintenance of various streets, and then move into reconstruction and new roads.

MORE: $20M bond for APD, AFD and other public safety | City facilities improvements | New parks and upkeep of existing ones | Voting Locations

"We're kind of at a point in our community where we can do some maintenance projects, but we're right at the precipice of kind of breaking over and having to do a lot more reconstruction projects because our maintenance is lagging behind," said Schniederjan.

The roads will be built and fixed regardless of if the bond passes.

It's just a matter of when they'll be done.

"If the proposition does not pass, these streets would be done on the current schedule that we have laid out in front of us, and that is a far greater time line than if the proposition does pass," said Schniederjan.

If this proposition is passed, Amarillo residents would see a property tax increase of anywhere from 2¢ to 4¢ per year for the next 5 years.

The total increase amount depends on how many of the 7 propositions are approved.

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