FORT WORTH (WBAPKLIF)-The Tarrant County Commissioners Court voted this week to call a bond election authorizing two propositions be placed on the Nov. 2 ballot.
In total, Tarrant County voters will be deciding on $516 million worth of bonds.
Proposition A calls for the issuing of $400 million in general obligation bonds for the purpose of purchasing, acquiring, reconstructing, renovating, rehabilitating, improving and maintaining streets, roads, highways and bridges in Tarrant County.
Proposition B calls for issuing $116 million in general obligation bonds for purchasing, constructing, improving and equipping a Criminal District Attorney Office Building to provide space for prosecutorial efforts and for other nonjudicial county activities and facilities.
The bond election will be held on Nov. 2.
The Commissioners Court emphasized its intent to only issue the bonds if the county has the capacity to repay the bonds without a tax-rate increase.
It is currently anticipated that the bonds will be issued in several series over the next several years.
Earlier this year, the City of Fort Worth proposed several dozen projects to be considered as part of the $400 million transportation bond program. The Transportation & Public Works staff reviewed the county’s bond policy, criteria and main funding categories to identify eligible projects with the best opportunity for county bond funding.
The city will be required to provide at least a 50% local match of the total cost of each project. The proposed 2022 city bond program funds are expected to provide the bulk of the local match, along with available transportation impact fee funds and other sources as available.
The city’s identified projects total $404,100,000, with $204,500,000 of that amount coming from the city’s 2022 bond and other funding sources. To date, the Commissioners Court has allocated $199,510,568 to projects across the county, including $78,410,000 for six arterial street projects in Fort Worth: Cromwell Marine Creek Road, Avondale Haslet Road, Bonds Ranch Road/Wagley Robertson Road, Everman Parkway, Intermodal Parkway, and W.J. Boaz Road.
