Enclosed for the City Council’s consideration is the resolution to call the 2025 Bond Referendum election as drafted by the City of Plano’s bond counsel, Robert D. Dransfield of Norton Rose Fulbright. If approved, this resolution would place $647.9 million in new bond authority across seven propositions before voters during the May 3, 2025 municipal elections. The Referendum will include funding for Street Improvements, Public Safety Facilities, Fleet Operation Facilities, Library Facilities and Parks and Recreation Facilities Projects.
The projected tax rate impact is 3.20 cents or $224.65 for an average home of $579,554 in 2029 if all propositions before the voters are approved. The packet includes the current proposed project list and project descriptions in addition to the resolution ordering the bond referendum election for May 3, 2025.