Humble city officials discuss potential for future bond issue
Humble city officials discuss potential for future bond issue
Source: Community Impact NE Houston
Date: 06/25/2024 3:44pm
Article Summary:
"Humble City Officials Discuss Potential Bond Issue to Address Budget Shortfall: City Council Considers $30 Million in Funding for Capital Improvement Projects"
Humble City Council members are discussing a potential bond issue due to a projected $4 million budget shortfall in the future, which could impact funding for capital improvement projects. The city's bond counsel presented options that would allow the city to incur a $0.01 tax increase on the debt service portion of property taxes, resulting in a $115 increase to property tax bills on average homes, but providing $30 million in bond funding for infrastructure and public safety projects. The city is not planning to call a bond election this year but may seek citizen input within the next year.
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Date: 06/25/2024 3:44pm
Article Summary:
"Humble City Officials Discuss Potential Bond Issue to Address Budget Shortfall: City Council Considers $30 Million in Funding for Capital Improvement Projects"
Humble City Council members are discussing a potential bond issue due to a projected $4 million budget shortfall in the future, which could impact funding for capital improvement projects. The city's bond counsel presented options that would allow the city to incur a $0.01 tax increase on the debt service portion of property taxes, resulting in a $115 increase to property tax bills on average homes, but providing $30 million in bond funding for infrastructure and public safety projects. The city is not planning to call a bond election this year but may seek citizen input within the next year.
Read article here »