· Related development
Council votes to publish notice of up to $8.15 million in COs; online petition seeks a vote
Texas Scorecard reported that the council voted to publish notice of intent to issue up to $8.15 million in COs for a new pool, and that residents started an online petition asking for a public vote, which it said City officials would not accept. State law requires an election if a petition signed by 5% of qualified voters is filed before the certificates are authorized.[1][2]
What the sources say
- ✓ Verified
Texas Local Government Code section 271.049 bars issuing certificates of obligation unless the issuer publishes notice of intent (twice in a newspaper, the first time before the 45th day before the planned vote, and for 45 days on its website); if a petition signed by at least 5% of qualified voters protesting the issuance reaches the city secretary before authorization, the certificates may be authorized only if approved at an election.[2]
- Unverified
Texas Scorecard: Texas Scorecard reported in April 2020 that the council had voted to publish notice of intent to issue up to $8.15 million in certificates of obligation for a water park.[1]
- Max principal
- $8,150,000
- Unverified
Texas Scorecard: Texas Scorecard reported that residents started an online Change.org petition asking for a public vote on the debt, with more than 1,600 signatures at publication, and said City officials would not accept an online petition; it noted that state law requires an election if a petition signed by at least 5% of registered voters is filed before the debt is issued.[1]