What is a general obligation bond?

Over the past 50 years, the City of Boerne has utilized general obligation (GO) bonds to restore, replace, and expand infrastructure and capital assets across the city. GO Bonds are a debt obligation issued by local governments to fund public purpose capital improvements, such as roads and public facilities. GO bonds are secured by and payable from the City’s pledge of ad valorem tax levied on all taxable property within the City. GO Bonds are proposed and voted on in citywide elections.

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1. What is a general obligation bond?
2. How did residents vote in past Bond Elections?
3. How much did taxes increase for the 2007 Bond Election and are the projects completed?
4. If the 2022 Quality of Life Bond goes to the ballot and is approved by voters, will it increase the property taxes paid by homeowners who are 65 or older or disabled?
5. What if I have a question or comment about the proposed Boerne Quality of Life Bond?
6. When would the first bond projects be under construction?
7. Will the Quality of Life Bond Election bond increase taxes?
8. How have residents been involved in developing this bond?
9. How does a bond work?
10. How does the City currently pay for projects?
11. Why not just do these projects on a pay-as-you-go basis?
12. Who would buy the GO bonds?
13. How long would the City be paying off the bond?