McKinney City Council continued discussions Tuesday night about a potential bond election in May. During the meeting council presented a list of 35 residents to sit on the 2019 municipal bond committee.
Council also approved McKinney Mayor George Fuller, Council Member Scott Elliott and Mayor Pro Tem Tracy Rath to vet and appoint who of the 35 residents will sit on each of the five subcommittees. Subcommittees will cover finance, parks, facilities, public safety, and streets and roads with seven people on each subcommittee.
Fuller said council members will submit recommendations about who they would like to see sit on each subcommittee. Fuller, Elliott and Rath will review these recommendations before assigning members to the five subcommittees.
Council began discussing a potential bond election during a work session Oct. 1.
During the budget work session in August, City Manager Paul Grimes said the council will have to consider a future bond election to fund community improvement projects after this upcoming budget because the city’s road funds from the 2015 bond will be exhausted after next year.
According to a presentation during the Oct. 1 meeting, the last bond that the city passed was in 2015 for $100.3 million with $54.2 million remaining. The remaining funds are earmarked to be spent on streets/traffic, public safety and drainage projects by 2023.
Subcommittees will work with city staff to establish preferred projects, validate cost estimates and present its recommendations to the council by January or February 2019. Following a presentation in January or February, should the council decide to call for a bond, council members would set a final slate of priority projects and then would call for the May 2019 bond election.
A bond election must be called at least 77 days prior to the election date.