Special Park Bond Election
Due to the COVID-19 pandemic, the May 2, 2020, Special Bond Election has been postponed until Tuesday, November 3, 2020.
Fate voters will decide if the City should issue $3.25 million in bonds to prepare the entire park site adjacent to Harry Herndon Elementary School for future development while also completing a substantial first phase of park amenities; which includes:
- Full Site Grading and Earthwork
- Full Site Utilities
- Retention Pond
- Center Pedestrian Paving
- Play Structure
- Pavilion / Restroom
- Phase 1 of the Parking Lot
- Phase 1 of Site Amenities
- Phase 1 of Irrigation
- Phase 1 of Landscaping
- Plus 10% Contingency and 2% Construction Price Increase
** The gray shaded areas below are not included in phase 1. **
Bond Election Frequently Asked Questions
What is a General Obligation Bond?
General Obligation (GO) bonds are debt instruments issued by states and city governments to finance large capital improvements. Bonds are sold to investors and the proceeds from the sales of these bonds are used to pay for major capital investments that have a public purpose—such as the park site development and construction of the first phase of park amenities contained in Fate’s 2020 Park Bond Proposition.
How are funds repaid that are received through the issuance of General Obligation Bonds?
General obligation bonds are backed by the full faith and credit of the issuing jurisdiction, in this case, the City of Fate. This means the City is obligated to pay back the bonds plus interest by pledging its revenue and ad valorem taxing power. As such, the City may use a portion of its property tax revenue, or other revenues, to repay GO bonds in the form of annual principal and interest payments.
How did the City of Fate decide which items to include in the proposed bond proposition?
During the fall of 2018, the Fate City Council purchased the land adjacent to Harry Herndon Intermediate School for the purposes of building a community park for the southern section of the City.
On March 5, 2019, the Parks and Recreation Advisory Board held a community input session at Harry Herndon Intermediate School for the parkland adjacent to the school. During the meeting, Schrickel Rollins PSC, a park planning firm took feedback from the community and provided a web-based survey that was open for one week. The survey was completed by 560 respondents. The planners compiled the data and with City staff and the Parks and Recreation Advisory Board prioritized projects and phases based on the most requested items. The total estimated cost of the park based on the master plan came in at $6.8 million.
On February 3, 2020, the Fate City Council approved calling an election for $3.25 million for phase 1 of the project. This was after months of presentations and recommendations by City staff, the Parks and Recreation Advisory Board discussions, and citizen input gathered at in-person and online forums.
Phase 1 begins the community park and lays the foundation for future park projects that can be completed as Park Development funds become available in the future.
How much money would the 2020 Park Bond generate if the proposition passes?
If proposition A passes, the City of Fate would be authorized to issue bonds for $3.25 million.
If a bond proposition is approved, when will the construction of that project begin?
Voter approval of a bond proposition only authorizes funding for the project. Before construction, the City must take steps to plan, design, and bid a project. Therefore, depending upon the type of project, the process from planning to construction may take several months.
What are the property tax implications under the proposed 2020 General Obligation bonds?
What will the 2020 bond proposition look like on the ballot on November 3?
- Election order (O-2020-006)
- Notice of Election Postponement (O-2020-009)
- Revised Election Oder (O-2020-019)
- Notice of Election
- AVISO DE ELECCIÓN
- Sample Ballot Language
The City contracts with the Rockwall County Elections Office to conduct our elections. Please contact the Rockwall County Elections Office at (972) 204-6200 or visit their website at www.rockwallvotes.com for information regarding voter registration.