Photo by Melenie YuenMissouri City's bond exploratory committee presented a proposed bond package to City Council for a possible May election.
Missouri City's bond exploratory committee presented its recommendations for a possible bond package that residents will be able to vote on in May. City officials plan to continue reviewing the proposed bond package in the first quarter of 2014.
The bond package totals $40 million and is expected to be implemented over the next eight to 10 years, City Manager Ed Broussard said.
"This projection of $40 million is based on our existing debt service that we have as well as the issuance of another $30 million of existing bond authorizations," director of finance Wes Vela said.
Money from the city's 2003 bond are dedicated for transportation and drainage projects that are currently earmarked in the city's capital improvement plan.
The bond committee was appointed by City Council in January 2013 and is comprised of 34 resident volunteers from the community. The bond committee presented their recommendations to City Council in December, and council members will vote on the final allocation for projects and identify all funding sources in early 2014 in time for the proposed May 2014 bond election.
Proposed bond package
Drainage—$6.5 million
Public Safety—$5 million
Facilities—$13 million
Parks and Recreation—$2.5 million
Transportation—$13 million
