Page 521 - Hurst FY19 Approved Budget

2005 Bond Election (General Obligation)

In June 2005, a Citizen Bond Committee met to review the City’s short and intermediate
term capital improvement needs. Staff introduced and explained the City’s CIP document.
The dynamic nature of the CIP was discussed in regards to projects being added and
deleted from future unfunded needs based upon updated Council strategies, ongoing
staff evaluation and ranking of projects, citizen surveys, and economic conditions.
The Committee also considered other self-identified issues while developing its
project recommendation. After extensive review and discussion, the Bond Committee
recommended presenting nine projects totaling $11.8 million to voters. In November
2005, voters approved eight of the projects totaling $11.7 million. The approved projects
will encourage redevelopment efforts in the City while also improving the condition of
the City’s infrastructure. As shown in the table below, the City issued its first $4.5 million
of voter-approved debt in 2006. In 2007, the City issued $4.1 million. The final phase of
$3.1 million is scheduled to be issued in 2025 or later. Please note that the $3,100,000
are drainage projects that will more than likely be funded with Storm Drain Utility funds
in the future.

2005 Bond Election (General Obligation Cont.)

Amount Amount Issued Amount Issued Authorized
Project Description Authorized Fiscal Year 2006 Fiscal Year 2007 Unissued
New Fire Station #2 $2,500,000 $2,500,000 $0 $0
New Senior Center 2,000,000 2,000,000 0 0
Library Improvements 1,500,000 0 1,500,000 0
Street & Drainage Imp. 4,000,000 0 2,600,000 1,400,000
Hurst Athletic Complex Imp. 1,700,000 0 0 1,700,000
Total $11,700,000 $4,500,000 $4,100,000 $3,100,000

2012 Bond Election (General Obligation)

On May 12, 2012, voters approved $16.5 million to construct a Justice Center and related
parking facilities. The facility is approximately 61,000 square feet and includes the
police department and municipal court. There is also a parking garage constructed to
handle police, employee and visitor parking. The new center opened in February 2015.

Certificates of Obligation

The City typically issues approximately $4 million per year in Certificates of Obligation.
The City’s Transforming Hurst redevelopment efforts have generated issuances higher
than $4 million in 2007, 2008 and 2009. No issuances occurred during 2010 or 2011.
Certificate of Obligation funding allows the City to maintain the outstanding quality

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