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