2012 Bond News Release - May 13, 2012

San Antonio voters approve $596 million bond program

For immediate release contact: Roland Martinez

May 13, 2012

San Antonio voters approved the City of San Antonio’s Proposed 2012-2017 Bond Program on Saturday, May 12.

The $596 million program, divided into five propositions, was approved as follows:

  • Streets, Bridges & Sidewalks - 72 percent in favor
  • Drainage & Flood Control – 73 percent in favor
  • Parks, Recreation & Open Space – 64 percent in favor
  • Library, Museum & Cultural Arts Facilities – 62 percent in favor
  • Public Safety Facilities – 67 percent in favor

The 140-project bond program includes:

  • 41 projects in Streets, Bridges & Sidewalks – $337.44 million
  • 17 projects in Drainage & Flood Control – $128.03 million
  • 68 projects in Parks, Recreation & Open Space – $87.15 million
  • 11 projects in Library, Museum & Cultural Arts Facilities – $29.03 million
  • 3 projects in Public Safety Facilities – $14.35 million

“I'm pleased that San Antonians expressed their confidence in City Hall by approving a bond program that will continue to improve upon the attractive quality of life we enjoy in San Antonio," Mayor Julián Castro said. "Like past bond issues, we will strive to reward that trust by completing these 140 projects on time and within our budget.”

City Manager Sheryl Sculley said, “The positive outcome on Election Day comes after an extensive process that involved community input and many months of hard work by residents, City Council, and City staff. The City of San Antonio has a successful record of managing bond programs, with the 2007-2012 Bond Program under budget and substantially complete. We look forward to implementing the 2012 Bond Program as we design, bid, and construct the projects to meet the community’s significant infrastructure needs and to build a great San Antonio.”

A City of San Antonio property tax rate increase is not recommended to fund the bond program. The City’s current property tax rate is projected to be sufficient to fund the debt service payments for the program. In addition, the bond program does not include funding or projects for VIA’s streetcar program.

A Citizens Bond Oversight Commission, established in 2003, will continue to monitor the progress of the 2012-2017 Bond Program.