Bond 2019

The Bond Referendum scheduled for Saturday, May 4, 2019 totals $44,665,000 in new authority and contains three propositions for various public improvements. These improvements include construction and reconstruction of streets, thoroughfares, screening walls, sidewalks and alleys; construction and renovation of parks and recreational facilities;  the renovation, improvement, rehabilitation and equipment of existing City facilities including the Plano Service Center, Plano Public Library branches, Fire Stations and the Animal Shelter.

The projects included in the 2019 Bond Referendum were selected to address identified renovation and maintenance needs for existing streets, parks and city facilities.  After initially being identified by city staff, the Plano’s City Council and Planning & Zoning Commission reviewed and approved projects after receiving input from Plano residents at public meetings this past winter.  All improvements made with 2019 bond funding will have an expected lifespan greater than 20 years.  

The following information outlines the process, the projects, the impact on taxpayers, and the election and is provided to the citizenry for careful consideration.  Assumptions utilized in determining all figures may be obtained from the Budget & Research Department at 972-941-7194.

2019 Bond Referendum Project List (02-11-2019)
2019 Bond Referendum Project Descriptions (02-11-2019)
2019 Bond Referendum Projects Map
2019 Bond Referendum Story Map
2019 Bond Presentation (02-22-2019)
Plano May 2019 Election Notice of Bond Referendum: English Version | Spanish Version

Proposition A: Street Improvements

Totals $18,750,000 and is for Street Improvements in the City of Plano.  This proposition includes funding for pavement repairs along major thoroughfares and streets, alleys and sidewalks within residential neighborhoods.  Funding provided by this proposition could be used to partner with other organizations, such as the Texas Department of Transportation or Collin County to undertake joint projects.

Proposition-A---Street-Improvements Website

Proposition B: Park & Recreational Facilities

Totals $17,890,000 and is for Park and Recreational Facilities in the City of Plano.  Anticipated park renovations include park renovations at Old Shepard Place, Willowcreek, Russel Creek, Evans, Glen Meadows and Caddo Park; restroom replacements for year-round use at Bob Woodruff Park and Schell Park; athletic field lighting replacements at Cheyenne Park and High Point Park North; and trail replacements along Chisholm Trail and Hoblitzelle Park.  Also included are renovations for the pump room at Tom Muehlenbeck Recreation Center and a roof replacement at the Plano Aquatic Center.

Proposition-B---Park-and-Recreational-Facilities Website

Proposition C: Existing Municipal Facilities

Totals $8,025,000 and is for Renovations and Improvements to Existing Municipal Facilities in the City of Plano.  This proposition includes funding for the renovation of the Parkway Service Center and Fire Station 5, roof replacements at both Davis Library and Haggard Library and at Fire Station 2 and expansion of the Animal Shelter parking lot.

Proposition-C--Existing-Municipal-Facilities

Bond FAQs:

What is a bond?
A bond is a debt instrument issued over a period of time for the purpose of raising capital by borrowing from investors.  Governmental entities such as the federal government, states, cities, school districts, and many other types of government institutions sell bonds.  A bond itself is generally a promise to repay the principal along with interest over a specified period of time.

Why do we sell bonds?
The City of Plano issues general obligation bonds for the purpose of constructing major capital improvements that include, but are not limited to, municipal facilities, parks, streets and other public infrastructure.

What is the City’s Bond Rating?
Plano’s General Obligation Bonds currently receive the highest possible bond rating from Standard & Poor’s and Moody’s.  This enables the City to issue bonds at the lowest interest rates and issue debt without buying insurance, ultimately reducing what the City pays in interest over the life of the bonds.

How will these bonds be paid?
The bonds will be paid for from ad valorem (property) taxes.

What is the impact on my property taxes?
Currently, the average home value in the City of Plano, as determined by the Collin Central Appraisal District, is approximately $369,050.  After deducting the 20% homestead exemption, the average homeowner pays approximately $1,359 in taxes to the City of Plano annually based on the current tax rate of 46.03 cents per $100 of assessed property valuation.  Based on projected assessed property valuation, if all propositions are approved, no tax rate impact will be necessary for the average homeowner.  This amount reflects consideration for retirement of existing debt, the issuance of existing authority and funding of the annual operation and maintenance expense for the proposed projects.

What is the total amount of general obligation debt that is currently outstanding for the City of Plano?
As of March 2019 the City of Plano has $377.09 million of outstanding general obligation bonds, certificates of obligation and tax notes.  Passage of all propositions in this referendum would add an additional $44.7 million in principal and approximately $24.9 million in interest over a twenty-year period, the anticipated length of time the bonds would be outstanding.

How much previously approved bond authority is remaining? 
As of March 2019 there is $176,270,500 of unissued bond authority remaining from the 2009, 2013 and 2017 bond elections that is available to the City of Plano, which is the maximum amount of new general obligation debt that could be issued without further voter approval.  Of this $176.3 million, the City plans to issue $64.0 million later this spring for street, park, recreation center, library and public infrastructure projects.  All remaining authority is expected to be issued by 2021 in support of similar projects.

 What are the estimated operating costs associated with the projects?  
Total operating costs associated with the projects are estimated at $37,500 and would be phased in as each project comes into operation.  The Bond authorization does not include the operating or maintenance costs.

If the bonds are approved, must the money be used for the purposes specified or can it be used for any other purpose?
The City is permitted to expend bond proceeds only for the purposes described in the corresponding proposition.  

How are the projects prioritized?
Based on the bond authority approved by the citizens through the bond elections, a five-year Community Investment Program is prepared each year to update capital investment plan priorities and to ensure that the financing can be supplied, and its effect on the current and future tax rate identified.

Who can vote in the election?
Any resident of the City of Plano, who has lived in the State of Texas and either Collin or Denton County at least 30 days prior to the election and has a valid voter registration certificate issued by the County Clerk of either Collin County or Denton County.

Can I vote early?
Yes.  Early voting by personal appearance as below: 

Collin County Early Voting

Collin County Early Voting Date/Times
April 22–24, 2019  | 8:00 a.m. – 5:00 p.m.
April 25, 2019 | 8:00 a.m. – 7:00 p.m.
April 26–27, 2019 | 8:00 a.m. – 5:00 p.m.
April 29–30, 2019 | 7:00 a.m. – 7:00 p.m. 

*Early voting in person shall be conducted by the Collin County Elections Administrator as Early Voting Clerk.

Main Early Voting Location
Collin County Elections Department
2010 Redbud Boulevard, Suite 102
McKinney, Texas 75069
Early Voting Locations


Carpenter Park Recreation Center
6701 Coit Road
Plano, Texas 75024
Christopher A. Parr Library
6200 Windhaven Parkway
Plano, Texas 75093
Collin County Community College -
Spring Creek Campus

2800 East Spring Creek Parkway
Plano, Texas 75074
Maribelle M. Davis Library
7501-B Independence Parkway
Plano, Texas 75025
Haggard Library
2501 Coit Road
Plano, Texas 75075
Harrington Library
1501 18th Street
Plano, Texas 75074
Murphy Municipal Complex
206 North Murphy Road
Murphy, Texas 75094
Renner Frankford Library
6400 Frankford Road
Dallas, Texas 75252
Plano Independent School District Administration Center
2700 West 15th Street
Plano, Texas 75075


Denton County Early Voting

Denton County Early Voting Date/Times
April 22–24, 2019  | 8:00 a.m. – 5:00 p.m.
April 25, 2019 | 8:00 a.m. – 7:00 p.m.
April 26–27, 2019 | 8:00 a.m. – 5:00 p.m.
April 29–30, 2019 | 7:00 a.m. – 7:00 p.m. 

Main Early Voting Location (Denton County)
Denton County Elections Office
701 Kimberly Drive, Suite A101
Denton, Texas 76208
Early Voting Location
Christopher A. Parr Library
6200 Windhaven Parkway
Plano, Texas 75093

     

Voting by Mail

Application for ballot by mail shall be mailed to the corresponding county address below and must be received no later than the close of business on Tuesday, April 23, 2019:

COLLIN COUNTYDENTON COUNTY
Bruce Sherbet, Elections Administrator
Collin County Elections Office
2010 Redbud Boulevard, Suite 102
McKinney, Texas, 75069
Frank Phillips, Early Voting Clerk
Elections Administrator
Denton County Election Administration
701 Kimberly Drive, Suite A101
Denton, Texas, 76208


Where do I vote on Election Day? 
City election precincts shall consist of the territory within the Collin County election precincts and the Denton County election precinct located within the corporate limits of the City bearing the following number of polling places noted:

COLLIN COUNTY ELECTION PRECINCTSPOLLING PLACE
52, 61, 68, 103, 141Armstrong Middle School
3805 Timberline Drive, Plano, TX  75074
34, 107, 119, 121, 135, 139, 197
Bethany Elementary School
2418 Micarta Drive, Plano, TX 75025
23, 46, 47, 50, 51, 152, 158
Bowman Middle School
2501 Jupiter Road, Plano, TX 75074
21, 54, 62, 66
Carpenter Middle School
3905 Rainer Road, Plano, TX 75023
109, 123
Christopher A. Parr Library
6200 Windhaven Parkway, Plano, TX 75093
15, 19, 53, 65, 70, 71
Haggard Middle School
2832 Parkhaven Drive, Plano, TX 75075
58, 77, 91
Hendrick Middle School
7400 Red River Drive, Plano, TX 75025
31, 32, 63, 76
Hughston Elementary School
2601 Cross Bend Road, Plano, TX 75023
14, 81, 86, 89, 108, 112, 124, 167Robinson Middle School
6701 Preston Meadow Drive, Plano, TX 75024
64, 69Schimelpfenig Middle School
2400 Maumelle Drive, Plano, TX 75023
28, 75, 105, 143
Shepton High School
5505 Plano Parkway, Plano, TX 75093
39, 85
Thomas Elementary School
1800 Montana Trail, Plano, TX 75023
90, 116, 137, 176
Tom Muehlenbeck Recreation Center
5801 West Parker Road, Plano, TX 75093
26, 49, 67, 72, 138
Wilson Middle School
1001 Custer Road, Plano, TX 75075
DENTON COUNTY ELECTION PRECINCTSPOLLING PLACE
2020Christopher A. Parr Library
6200 Windhaven Parkway, Plano, TX 75093


When will the Election Day polling places be open?
Saturday, May 4, 2019 the polls will be open from 7:00 a.m. to 7:00 p.m.

Who can I contact if I need more information?
You may call the Budget & Research Department of the City of Plano at (972) 941-7194 for more information related to the 2019 Bond Referendum.  In addition, a program has been developed and is scheduled to be aired on Plano Television Network on Spectrum channel 16 or digital 15.101 and Frontier Fios channels 30 & 31. The program can also be viewed via streaming video on planotv.org for three weeks beginning Monday, April 15 through Saturday, May 4 at the following times (the program may be pre-empted for scheduled public meetings):

Monday through Sunday
12:00 a.m. and 12:00 p.m.
4:00 a.m.  and  4:00 p.m.
7:00 a.m. and 7:00 p.m.
10:00 a.m. and 10:00 p.m.