On Tuesday, Texas voters went to the polls to say YEA or NAY to 214 separate new debt propositions worth $26.2 billion (principal only). Based on a cursory review of the official and unofficial election results, it is clear that most of the borrowing was approved.
Using the Bond Review Board’s bond election database, we’ve compiled a list of the top 20 most expensive bond propositions this election cycle and added its result. Collectively, these 20 pricey propositions sought approval for $17.6 billion (principal only) of bond debt, which represents about two-thirds of the overall amount requested. As you’ll see, 18 of the 20 propositions were passed, meaning that local governments may now put an extra $17 billion on the taxpayer credit card.
