WHA Supports Houston Pension Obligation Bonds (Proposition A):
In a letter to Mayor Sylvester Turner, West Houston Association’s (WHA) Executive Committee, Chairman John S. Moody, Sr. and President & CEO Augustus L. Campbell voiced the organization’s support the City of Houston Pension Obligation Bones (Proposition A).
“These Pension Obligation Bonds are a critical component of a reform plan enacted by the Texas Legislature earlier this year” the WHA letter states, “By procuring $1 Billion in bonds after the election, the City of Houston is likely to reduce future pension obligations by $1.8 billion, helping the City’s tax payers and the retirement security of police, firefighters and municipal employees.”
The City of Houston, Texas, will conduct a Bond Election and Local Option Election on Tuesday, November 7, 2017. One of five bonds on the ballot, Proposition A leaves voters with a solution to Houston’s potential pension problem.
Solving pension issues now can prevent greater burdens in the future.
The official ballot language for Proposition A reads “The issuance of $1,010,000,000 pension obligation bonds for the purpose of funding a portion of the unfunded liability of the City with respect to the Houston Police Officers’ Pension System and the Houston Municipal Employees Pension System as contemplated by the pension reform plan contained in Senate Bill 2190 (adopted in the 85th (2017) Texas Legislature, Regular Session), and the levying of taxes sufficient for the payment thereof and interest thereon.”
Resolution Supporting the Katy ISD Bond Package
The West Houston Association believes the bond proposal is in the best interest of the Katy area and Greater West Houston.
The bond proposal includes $609 million to build new facilities, rehabilitate existing facilities, technology, transportation and more over the next ten years. This proposal would not raise any additional taxes on Katy ISD residents.
Resolution Supporting the City of Houston Capital Bond Proposal
The City of Houston approved the 2018 Capital Improvement Plan Bond on June 27, 2017 which proposed $538 million in capital improvements over the next 5 years. This would fund improvements to Houston parks, fire stations and community centers among others.
The West Houston Association believes this bond proposal will improve the quality of life and economic development for the area and provide citizens with needed services.
Voters must approve $490 Million in bonds. In 2012, voters supported $410 million in bonds to support a similar 2012 Capital Improvement Plan.