During the Feb. 6 meeting, council voted 6-0 to add the bond election on the May 4 ballot.
The total cost of the various projects is $263.4 million and would cover 24 recommended projects, according to documents. The bond would be issued over a 10-year period and would have a 4.5% interest rate, based on tax-exempt rates as of Feb. 5, according to city documents.
Lewisville Finance Director David Erb said a taxpayer would be paying an additional $4.39 per month on the proposed 1.5-cent increase, based on Lewisville's median home value of $351,567.
The fiscal year 2023-24 tax rate is $0.419079 per $100 valuation and could increase to $0.434079 per $100 assessed value, according to Erb.
What you need to know
The bond is broken down into four different propositions.
- Proposition A: $6.7 million for firefighting facilities
- Proposition B: $9.9 million for the Gene Carey Animal Shelter and Adoption Center expansion
- Proposition C: $47.7 million for acquiring, developing, equipping and renovating parks, trails and recreation facilities as well as acquiring, constructing and installing public art
- Proposition D: $198.9 million for street and roadway improvements
Early voting for the bond propositions and council spots will be held in Denton and Dallas counties on April 22-26, April 27 and April 29-30 in both locations.
Denton County locations are at the Fredrick P. Herring Recreation Center in Lewisville and the Denton County Administration Building in Denton.
In Dallas County, residents can vote at the Coppell Town Center Atrium or the Dallas County Election Department in Dallas.
