Gerald Hanks
As the early voting season starts for municipal elections in Houston, a series of bond proposals on the ballet, ranging from $100 million for improvements to the city’s parks, to $1 billion to cover the police pension fund, are drawing attention.
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In a letter sent to voters, Houston Mayor Sylvester Turner wrote police officers, city workers and former mayor Annise Parker, who all reportedly support the bond measures.
As Turner explained, the bonds serve “as responsible ways to finance upgrades to dilapidated police and fire stations, parks and libraries. And none of these propositions will require a tax increase.”
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In the wake of Hurricane Harvey, city officials and residents alike agree, one of the most important issues facing the city is noticeable by its absence: flood control.
City officials maintain the deadline for submitting bond measures on the November ballot passed prior to Hurricane Harvey, after his record-setting flood waters devastated much of the area.
However, as critics point out, the bond issues are using long-term debt instruments to finance short-term needs, which may mean future city administrations could be forced to raise taxes to cover the debt.
Bill Frazer, former president of the Houston CPA Society and former candidate for city controller, spoke out against the use of bonds for financing such things as repairs and upgrades to city buildings in an interview:
“You don’t use bonds for maintenance because maintenance is an ongoing cost,” Frazer said. “You get a home loan to buy the home. You don’t go out and get a home loan if someone is going to come out and get your house painted.”
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Former Houston mayoral candidate Bill King also spoke out against the bond measures in another interview:
“This is a bunch of regular ongoing maintenance and vehicle purchases for the most part. And we’re going to finance that over 35 years? That’s absurd. The city is in such a financial mess. When you start borrowing long-term bond money to do basic repairs and to buy vehicles, you know you’re in trouble.”
Election day is Nov. 7.
