Residents of Rollingwood voted to pass a bond issue of $12.8 million toward the purchase and improvement of the Rollingwood water and wastewater system from the Lower Colorado River Authority by a vote of 475-45.
The purchase of the system is expected to create approximately $110,000 of refinancing savings per year. At current interest rates the cost of the bond is $665,000 at a 33-year term, as opposed to the $775,160 the city was obligated to pay the LCRA on an annual basis for the next 33 years.
Other Rollingwood results include Barry Bone defeating former Mayor William C. Hamilton by a vote of 257-245.
Bone led early, taking in 101 early votes to Hamilton's 86, but Hamilton made a late push with 159 votes from the two precincts while Bone grabbed 156.
