When voters approve bond propositions, they are giving the City authorization to sell bonds (borrow money) to fund long-term capital improvement projects. As of September 2012, the City had about $335 million in unspent bond authorization. Prior to the 2012 bond election, the most recent City of Austin bond elections were held in 1998, 2000, 2006 and 2010.
- In 1998, voters authorized the City to issue $339,740,000 in bonds to fund transportation, parks, public safety, libraries and cultural facilities, and drainage projects.
- In 2000, voters authorized the City to issue $163,400,000 in bonds to fund transportation and open space projects.
- In 2006, voters authorized the City to issue $567,400,000 in bonds to fund transportation, drainage and open space, parks, cultural facilities, affordable housing, the central library and public safety facilities.
- In 2010, voters authorized the City to issue $90,000,000 in bonds to fund transportation and mobility projects.
Based on the information available, more than 70% of the remaining authorized bond funds from the 1998, 2000, 2006 and 2010 bond programs would be spent by the end of FY 14 and about 95% by the end of FY 16.
