$4.67B in city, school, community college, hospital districts on tap
The largest May bond election in Texas since 2008 is on tap for May 11, as cities, community colleges, hospital districts and school districts are preparing to seek passage of more than $4.67 billion in bond projects.
Seventy-five entities will hold bond elections, the largest of which is pushing the $1 billion mark â€“ an $892 million referendum for a Central Texas school district, representing the largest ever school bond issue in Central Texas. The bond proceeds would be used for safety and security projects, technology upgrades, new construction and numerous renovations. A suburban area community college is hoping to pass a nearly half-billion-dollar bond election that would result in new facilities on most of its campuses.
The May elections in Texas include 10 city elections that total $362 million. Some of the projects included in these elections are new fire stations, water and waste-water plants, libraries, public parks, streets and sidewalks and recreation centers.
Three community colleges also are holding bond votes, with a total of $573 million in projects at stake. They include new buildings, renovations, safety and security projects, technology upgrades and parking.
There are four hospital districts holding elections that together total $105 million, for both new facilities and additions as well as purchase of new furniture and fixtures.
The biggest part of the elections, however, is for school districts. Dwindling tax revenues and reduced state funding have left many districts clamoring for ways to maintain existing facilities and build new ones to keep up with growing student populations. Many are turning to taxpayers to help through passage of bond issues.
In recent years, Texans have, for the most part, gotten behind their local school districts and passed bond issues. The Houston Independent School District passed the largest school bond issue in the history of the school district last year at $1.89 billion. The bond issue included numerous new high schools, and contracting opportunities from the bond election, which was held last November, will extend over years.
In the upcoming May election, there will be 59 school districts holding elections, with the dollar figure totaling $3.63 billion. Most of those bond issues have security upgrades, brought about by the increase in the number of gun-related threats and incidents on school campuses. Increasing student numbers in many of those districts also have school officials looking to build new facilities, both academic and athletic. There will be large contracting opportunities available for projects such as new building construction and technology purchases and upgrades, and smaller projects involving things like roof repair and HVAC upgrades. Other districts have opted for renovations of existing buildings instead of more costly new construction, so many have renovation projects in their bond issues.
All of the bond issues that pass will result in a multitude of contracting opportunities for all size vendors. To learn more about these bond issues, where they are being held, the dollar amount for each bond proposal and the projects in each bond vote, visit this web-link:
The bond package is available now and purchasers will also receive an election results document after the elections are held. It will include a listing of each entity whose bond issue passed, along with project information, details and data related to initiatives in each bond package.