City Debt as of 12/31/2016

We believe the Kerrville City Council, and previous City Manager (Mr. Todd Parton) have intentionally avoided sending issuance of Bonds to the Kerrville voters by issuing Certificates of Obligation (COs) which do not require voter approval. While these bonds do not require voter approval to be issued, the City Council COULD have sent them to the voters for their approval. They chose not to do so.

As of 12/31/2016, the total issued city debt principal since12/1/2006 is $86,015,000. That equates to an average debt issuance of $8,601,500 annually!

All debt issued since February 2010 has been by COs, and has been issued for non-essental projects - some classified as "quality of life" projects. We believe all debt issued for non-essential projects must be submitted to the citizens of Kerrville for their vote of approval - or disapproval.

Since 6/1/2015 the City Council has authorized $26,000,000 in debt issued by COs. That's just over 2 years. Including interest ($6,894,356) that debt figure is $32,894,356 or an average of $15,182,010 in debt per year - without the citizen's consent.

We believe we need Councilmen in place who are not afraid to take a bond issue to the citizen's for their vote, and work to "sell" the projects to the people if they believe they are worthwhile. It is obvious from the above information, that Stephen Fine (being the only elected Councilman who voted FOR adding debt without voter approval) should be replaced with a Councilman who WILL send bond issues to the citizens for their vote. Vote appropriately in the upcoming City Council election.