City treasurer: 2018 bond election could reach $500 million without impacting taxpayers, doubling expectations

Next year’s bond capacity has grown up to $500 million, a surprising figure that would more than double expectations laid out by city of Austin officials last year, according to City Treasurer Art Alfaro. Alfaro confirmed the increased bond capacity, which was originally estimated to be $205 million, to Community Impact Newspaper on Thursday. So why can the city seek more bond money? Alfaro explains: The city’s growth outpaced predictions—resulting in more money collected from property taxes—and interest rates stayed under predictions—allowing the city to borrow money at a cheaper rate than expected. The extra money allowed the city to […]

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