Nov. 7 bond elections are over…now opportunities begin
Texas voters made their voices heard by choosing for or against bond propositions put forth by cities, counties, school districts, special districts, a community college and hospital district. In total, 83 local government entities made the decision to call for a bond election to see if the majority of voters agreed with the propositions, such as one city that had five.
Bond elections on Nov. 7 totaled $11 billion and after a successful vote count for many, that total is now $9.9 billion. One successful bond election was over $1 billion for a single school district that will help rebuild multiple schools, construct new campuses and address overcrowding.
Another billion-dollar bond proposal is for a city that is in need of street repairs, traffic signals, sidewalks and bridges. The city also wants to replace libraries and fire stations and renovate and upgrade police facilities, neighborhood parks, cultural arts facilities, city hall, administrative facilities and more.
Strategic Partnerships, Inc. has researched all of the bond proposals and has documented contracting opportunities that will be available among those that passed. The 2017 Texas Bond Package is available for purchase now. There is also information that lists bond elections under consideration for May 2018 and beyond. If you want to keep track of bond election results beyond Texas, SPI also has the 2017 National Bond Package available now for purchase.
Even with such success for local and state governments, several bond propositions did not pass, and now these projects hang in the balance. Although they failed, the needs in those bond referendums still exist, and officials will be looking for ways to fund those projects. That can often open the door for public-private partnerships or unsolicited proposals. SPI’s research team will keep a watchful eye on those projects too. Order the 2017 Texas Bond Package to obtain information unavailable anywhere else.
Additionally, statewide voters agreed on the seven amendments to the Texas Constitution.
Proposition 1 will provide property tax breaks to a disabled veteran or his or her surviving spouse for a home that was donated by a charity — even if the residence was provided at some cost to the veteran.
Proposition 2 will make changes to home equity loans. The amendment will lower the cap on loan fees from 3 percent to 2 percent but allow additional fees to be charged. It will: let borrowers refinance home loans and home equity loans into a single loan; allow home equity loans on agricultural land; and reduce restrictions on cash advances with a home equity line of credit.
Proposition 3 will limit the “holdover provision,”which allows governor-appointed officeholders to stay on the job until a replacement is sworn in, even for long-expired terms. The amendment would require expired terms to end when the next regular session of the Legislature ends.
Proposition 4 will require state judges to notify the Texas attorney general any time a lawsuit seeks to overturn a state law. The attorney general would have 45 days to decide whether to intervene to defend the law.
Proposition 5 will allow minor league baseball, hockey, soccer and basketball teams to conduct raffles during home games to raise money for charity.
Proposition 6 will give a property tax break for spouses of police, firefighters and emergency workers killed in the line of duty.
Proposition 7 will allow banks and credit unions to offer prizes to encourage the use of savings accounts.