Wednesday, November 07, 2007

New Community Debt after Election

Well we have had our day at the polls and for the most part the sheeple have spoken... Below is a list of every bond proposal that was on a ballot in the greater Houston area that passed.

State Level
PROPOSITION 2 Allows the issuing of $500 million in general obligation bonds
PROPOSITION 4 $1 billion in bonds
PROPOSITION 15 authorizes issuance of up to $3 billion in bonds
PROPOSITION 16 general obligation bonds $250 million

Harris County
Bond Prop. 1 ($190 million, roads)
Bond Prop. 2 ($95 million, parks)
Bond Prop. 4 ($80 million, forensic center)
Bond Prop. 5 ($70 million, family law center)
Bond Prop. 6 ($250 million, Port of Houston)

Houston
Bond Prop. 1 ($36.85 million: streets, sidewalks, drainage)
Bond Prop. 2 ($22.995 million: public safety, emergency medical service, police, fire
buildings)
Bond Prop. 3 ($10.94 million: parks and rec facilities, aquatics facilities, and beautification)
Bond Prop. 4 ($7.17 million for East Baker Road extension)
Bond Prop. 5 ($2.525 million for Texas Avenue area improvements)
Bond Prop. 6 ($2.02 million for drainage improvements)

Houston ISD
Bond issue ($805 million)

Seabrook
Bond issue ($2.5 million for park)

Southside Place
Bond Prop. 1 ($4.5 million city hall)
Bond Prop. 2 ($1.3 million for Park Assn. clubhouse)

Spring Branch ISD
Bond issue ($597 million to rebuild 12 elementary schools)

Cypress-Fairbanks ISD
Bond issue ($806.8 million)

Brazoria County

Angleton ISD
Bond Prop. 1 ($98.6 million for land)
Bond Prop. 2 ($40.15 million for new football stadium and field house)
Bond Prop. 3 ($1.59 million for renovations, improvements)

Brazosport College
Bond issue ($70 million: classrooms,facilities)

Columbia-Brazoria ISD
Bond Prop. 1 ($12.8 million for renovations at Wild Peach Elem.)
Bond Prop. 2 ($3 million for renovations at Columbia High School)

Fort Bend
Fort Bend ISD
Bond issue ($428 million)

Chambers
CountyMont Belvieu
Bond issue ($11 million, roads, sewer, water)

East Chambers ISD
Bond Prop. 1 ($6 million for renovations, new classrooms)
Bond Prop. 2 ($3.5 million to build a new gym to replace existing unairconditioned facility)

Galveston County
Dickinson ISD
Bond issue ($107.5 million)
Friendswood ISD
Bond Prop. 1 ($91.1 million for a new junior high school campus, other campus upgrades)
Bond Prop. 2 ($1.8 million for football stadium upgrades, including the addition of 3,000 seats) Bond Prop. 3 ($6.5 million for a swimming facility)

Texas City ISD
Bond Prop. 1 ($109.7 million for new Texas City High School, Levi Fry Middle School and Kohfeldt Elementary; other improvements)
Bond Prop. 2 ($4.75 million technology improvements)
Bond Prop. 3 ($4.25 million for football stadium renovations, other athletic facilities)
Bond Prop. 4 ($3.8 million for renovation to the technology education support center and maintenance storage and shops)

Liberty County
Dayton
Prop. 1 ($11.9 million for library, community center, street improvements)
Prop. 2 ($795,000 for street, drainage improvements on Lover's Lane and South Cleveland)
Prop. 3 ($1.2 million for utility improvements at Lover's Lane and South Cleveland)


The Grand total of the bonds that were approved is $8,752,535,000.00, Yes that is eight BILLION Dollars. Now take that out over 30 years and with an interest rate of 5.25% and you are looking at nearly 22 Billion when all interest is included. The sad thing is the state just certified a budget with an 8 Million dollar surplus, and here we are looking at payments in the area of 750 Million a year on this obligation alone....

I know the answer to this, but do these people realize that this money will be coming out of their paychecks and mortgage payments in the form of property and sales taxes...