News

City Council Passes $385 Million Bond Package

August 17, 2012 5:42 pm by: Joy Diaz

Austin is asking voters to approve a $385 million investment in the city. Photo courtesy flickr.com/amagillAustin is asking voters to approve a $385 million investment in the city. Photo courtesy flickr.com/amagill

After days of negotiations, the Austin City Council reached an agreement today on the items that will come before voters for a bond election this November.

There were many visions of the direction the bond package should go. That’s what made negotiations go stale last night. This afternoon, council member Laura Morrison still hoped she could convince other members to free up some money for projects she wanted to champion.

“I just was optimistic that after a good night sleep, somebody was going to be able to pull a rabbit out of a hat and come up with some miraculous way that would shift some funds that would make everyone happy,” Morrison said.

The end goal prevailed. Council members ultimately constrained the city’s borrowing to $385 million to prevent a tax increase.

 

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