Item 83 Mobility Bond

Only City Council members and authorized staff are allowed to post on this message board.
Steve Adler
Posts: 533
Joined: Fri Jan 16, 2015 2:12 pm

Item 83 Mobility Bond

Post by Steve Adler »

Council Members,

Below is a link to proposed amendments to the IFC introduced last week related to a potential 2016 Bond Program which is posted as item 83 on this week’s agenda. Also linked below is an update of the proposed bond program detail we discussed last week as a starting place for our discussion regarding a $720 Mobility Bond Program.

A key difference in the resolution and detailed program from last week is a revised proposal to evenly utilize our bond capacity under our existing tax rate for a November 2016 Bond program and a future bond program. Staff has recently advised us that a $720M 2016 mobility bond program could be achieved utilizing $250M of our existing bond capacity while maintaining an estimated tax bill impact of less than $5 per month to the median homeowner. I hope this change addresses concerns expressed by a few of our colleagues regarding the needs that should be considered in future bond programs, and the desire to reserve more of our existing bond capacity to potentially address those needs in a future bond election.


Updated Resolution: http://assets.austintexas.gov/austincou ... 072333.pdf

Updated Proposed Bond Program: http://assets.austintexas.gov/austincou ... 072153.pdf
Mayor