Bond Election Results – November 2016
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November 8, 2016 Bond Election
To see the elections results on Harris County’s website go to: www.harrisvotes.com/ElectionNight/ENR.aspx?L=E
CLCWA proposed a bond election to fund current and future requirements over the next 7 years for facility inspections, construction, rehabilitation, improvement and enhancement of the CLCWA utility system infrastructure and to comply with state and federal mandated regulations. The CLCWA financial consultants advised that the proposed $88 million bond authorization is not projected to cause an increase to the current CLCWA tax rate for debt retirement of $0.22 per $100.00 property valuation over the next 7 years.
The $88 million includes estimated costs for the following:
- $13.9 million for water line rehabilitation and replacements including a nearly 50 year old 20” water main that serves parts of Camino South and Meadowgreen, water tank recoatings, a large generator replacement, and a joint venture with the City of Houston and other co-participants of the Southeast Water Treatment Plant to replace a water supply main on Hwy. 3;
- $16.8 million for wastewater rehabilitation and replacement including numerous lift station rehabilitations and upgrades, TV inspections and rehabilitation of the sanitary sewer lines, and a zinc and copper treatment system to meet state and federal mandated regulations;
- $33.3 million for rehabilitation and TV inspections of the storm sewer system, detention facility expansions and construction for flood control purposes (includes Exploration Green area, former golf course) and expansion of the reuse water system;
- $24 million for engineering, construction contingency, and fees.
CLCWA also proposed to authorize $132 million in Refunding Bonds. Refunding Bonds are only issued to refund outstanding debt originally issued at a higher interest rate. Taking advantage of lower interest rates helps reduce bond debt and ultimately lowers overall costs to the tax payers.