City Has Spent Just $6 Million of 2004 Bond Money - KCBD NewsChannel 11 Lubbock

8/9/07

City Has Spent Just $6 Million of 2004 Bond Money

Since the $300 million dollar bond proposal was brought up, some have asked questions about the 2004 bond election.

In 2004, Lubbock voters approved a $30 million dollar bond package for twenty-six projects ranging from public safety to renovations at the coliseum to the animal shelter.

A number of viewers have asked NewsChannel 11 why we're not seeing any of those improvements three years later.

Andy Burcham is the Director of Fiscal Policy for the City of Lubbock. He says, "When the voters approved that election, they were promised that their tax rates would not go up and in order to issue $30 million dollars worth of bond without impacting your tax rate, you have to do that over a period of time. So some projects approved in 2004 may begin as late as 2008 and may not be completed until 2010."

Burcham says the city has only spent $6 million of the approved $30 million dollars.

View the City of Lubbock's Proposed Operating Budget and Capital Program (Volume 1)
To view the file you will need Adobe Acrobat installed on your computer.  Please be patient this large document may take some time to appear on your computer depending on your connection speed.
View the City of Lubbock's Proposed Operating Budget and Capital Program (Volume 2)
To view the file you will need Adobe Acrobat installed on your computer.  Please be patient this large document may take some time to appear on your computer depending on your connection speed.

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