Lubbock City Council approved selling tax exempt bonds worth $152 million Thursday. The bonds will be used to finance a long list of projects including a visitor center and an overpass at North Loop 289 & Slide Road.
City council had previously given its blessing to this list of projects. This vote was approval of how to finance them.
The full list from the City of Lubbock is below.
Tax Increment Finance
Water, sewer, electric, drainage, park, and street improvements and extensions, including utility relocations, sidewalks, amenities, street lighting, and landscaping, all located within the City's North Overton Tax Increment Financing District.- $1,896,402
MASTER LEASE PURCHASES
Scheduled Master Lease purchases for various city departments include the purchase of vehicles, machinery, electronics, computer hardware and software, and other necessary equipment.- $ 24,005,285
*General Obligation Bonds. These projects were approved by the voters in an election held in May 2004.