County bond election to address infrastructure, replacing San Luis Pass Bridge
The Galveston County Commissioners Court recently approved a nearly $200 million bond election for county facilities, road and drainage improvements, including the replacement of the San Luis Pass Bridge.
Residents in May will vote on three bond measures totaling slightly more than $186 million. The commissioners unanimously voted to certify the bond election in the court’s Feb. 11 meeting.
“We’re looking at about $200 million bond, which in the world of bonds, isn’t that large for a lot of counties and cities, but for us, it is,” Commissioner Joe Giusti said. “The main consideration for us going for a bond, there are two things, one, to keep our bond rating at a triple A bond rating because Galveston County is one of the only counties along the coast with a triple A bond rating. Also, to be able to do the bond without having to increase our tax rate. So that’s the reason we’re keeping it to $200 million.”
Proposition A and Proposition B have the highest bond amounts, with each totaling roughly $75 million, according to county documents. Bonds issued under Proposition A will be for the construction, maintenance and operation of county and city roads, while Proposition B bonds will be for the purchasing, constructing and improving of county buildings.
The final proposition on the ballot, Proposition C, is set to be $36 million for “flood control purposes,” according to county documents.
https://www.galvnews.com/news/county-bond-election-to-address-infrastructure-replacing-san-luis-pass-bridge/article_7c5831eb-e3fc-5b2e-9919-2e69afe855ab.html
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