Proposition A - Bond Issuance for Road Improvements

SHALL the City Council of the City of Carrollton, Texas, be authorized to issue general obligation bonds of the City in the principal amount of $164,500,000 for permanent public improvements and public purposes, to wit: designing, acquiring, constructing, maintaining, renovating, improving, repairing, extending, expanding, and enhancing streets, including thoroughfares, alleys, sidewalks, bridges, intersections, screening walls, and other public ways, participation in joint projects with federal, state, and local public entities and agencies, computerized signalization and monitoring equipment, and other traffic controls, grade separations, street lighting, necessary or incidental utility relocation, and drainage improvements in connection with the foregoing and the acquisition of land, easements, rights-of-way, and other real property interests related thereto; said bonds to mature serially or otherwise over a period not to exceed thirty (30) years from their date, to be issued and sold in one or more series at any price or prices and to bear interest at any rate or rates (fixed, floating, variable, or otherwise) as shall be determined within the discretion of the City Council at the time of issuance or sale of the bonds; and shall the City Council of the City be authorized to levy and pledge, and cause to be assessed and collected, annual ad valorem taxes, within the limitations prescribed by law, on all taxable property in said City sufficient to pay the principal of and interest on the bonds?