League City to borrow $59M

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by Christopher Smith Gonzalez/ The Daily News

khou.com

Posted on August 16, 2012 at 10:11 AM

LEAGUE CITY, Texas — On Tuesday, the League City city council approved, 4-3, borrowing about $59 million for a new public safety building as well as other water and infrastructure projects.

About $29 million of the bond sale will go for building a new public safety building, $21 million for water and wastewater projects and the rest for other infrastructure projects.

Instead of going before voters for approval to issue bonds, the city is issuing certificates of obligation, which do not require any voter approval.

Council members Mick Phalen, Joanna Dawson and Phyllis Sanborn voted for the sale. Council members Dan Becker, Dennis OKeeffe and Andy Mann voted against it, arguing that the $29 million in bonds for the public safety building should have been put before voters for approval.

Click here to read more at the Galveston Daily News.

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