Online survey remains open through March 17 and citizens encouraged to provide ideas and comments
KILLEEN, Texas (Jan. 18, 2023) – The Killeen City Council requested an online survey, as well as a second special workshop for citizens to provide feedback and ideas on putting a General Obligation (GO) Bond on a future election ballot.
The community can complete the one-page, three-question online survey through Mar. 17 at www.KilleenTexas.gov/Bond, and is also encouraged to attend the Special Workshop on March 30 at 6 p.m. at City Hall (101 North College Street). This is the second workshop for citizens to hear the options and provide comments on 17 proposed city projects. The first meeting was on Jan. 9.
Councilmembers will discuss alternative funding measures to the city’s future and are also considering Certificates of Obligation (CO’s).
GO Bonds are issued by local governments, such as municipalities and schools, to finance infrastructure projects, including roads, bridges, and other critical public works projects. GO bonds issued by local governments are payable from the local issuer’s property taxes for a governmental capital project fund. GO bonds for local municipal governments require voter approval.
CO bonds do not require voter approval and are backed by the full faith and credit of the City (property tax pledge). They can have a dual pledge of property taxes and a specific City revenue source as well, depending on the projects that will be funded by the COs. Some examples of pledged City revenues are water, wastewater, drainage and street maintenance revenues. House Bill 1869 from the 2021 Texas Legislature limits the use of COs to specific purposes, including self-supporting debt, designated infrastructure, vehicles, existing facility renovations, public safety, and utility system improvements.
Citizens can view all bond projects at www.KilleenTexas.gov/Bond and complete the survey on that webpage.