How long will it take to repay bond debt money?

The City of Allen will repay bond debt within 20 years of bonds being sold. In the past, the City has repaid bond debt sooner than the anticipated 20 years. The City also has refinanced the sale of a bond series to lower interest repayment or pay off the debt sooner.

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1. What is a bond election?
2. How are projects selected for bond funding?
3. Will this bond election raise the City tax rate?
4. Why does the City use bond debt to fund projects?
5. How do I get involved in choosing potential bond projects?
6. How long will it take to repay bond debt money?
7. How much will the interest be for bond debt on proposed projects?
8. Does the City have to use bond debt to build new improvements?