Voters in Houston, Texas overwhelmingly approved the issuance of up to $2.5 billion in bonds for flood control.
From the flood control district website:
The explanation given is that the bonds will be sold over a 10 to 15 year period.
The explanation does not even answer the question asked. Instead the response says “The process to sell the first allotment of bonds could take about XXXX”.
The voters have given the flood control district a blank check. No one knows what will happen in the next year much less 10 to 15 years out.
They should have insisted that if bonds were needed they would be approved by the voters in smaller chunks, say five years at a time.
Consider our case here in El Paso where in 2012 voters approved the issuance of $473 million in bonds for quality of life projects. Six years later the majority of the money has not been spent.
We deserve better
That’s because in El Taxo once voters approve a Bond, Bonds they just become a “Slush Fund” for politicians, public officials to use, waste, blow off how ever THEY want. Has nothing to do with what THEY promised or the stated purpose for the Bonds. The almost BILLION$$$ Bond some voters gave EPISD. Now they are closing schools, losing students, “Reorganizing”. So where does the money go? “Quality of Life Bonds in the MILLIONS$$$ not used, spent. So where does that money go? Can THEY give the Bonds, money back, sell them? Just another slush fund for them. The only “Quality of Life” in El Taxo is for the Politicians, Public Officials who get RICH off of US.