Bond Program 2015
The following is a brief overview of City Bond Projects. You can find more detailed project information on many of these on our City Projects Updates page.
In November 2015, voters authorized a total of $96,700,000 in bond funds for:
- Proposition 1 (Streets)
- Proposition 2 (Public Safety)
- Proposition 3 (Library)
- Proposition 4 (Parks)
Bond projects are prioritized and funded based on debt financing capacity, project management phasing and availability of financial partners. The 2015 Bond Program was planned as a seven-year program with three issuances (take downs) scheduled. During the creation of this bond program, the project schedule was designed to manage bond project capital costs so that they will not impact the debt portion of the City's tax rate.
The first take-down was in summer of 2016, when the City issued $30,245,000 of these voter-approved bond funds for Proposition 1 (Streets) and Proposition 2 (Public Safety). The second takedown was in Fall of 2018, when the City issued $35,123,000 for a total of $65,368,000. The third and final takedown of the remaining bond funds of $31,332,000 was in 2020.
Bond Categories & Project Updates
- 74.76% of vote
These bonds provide funding for land acquisition, design, engineering, construction and other costs associated with road projects. Potential road projects may include but are not limited to New Hope Road construction from Cottonwood Creek Trail to Ronald Reagan Boulevard, Anderson Mill Road from Cypress Creek Road to Zeppelin Road and from Ranch to Market Road (RM) 1431 to the county line, the design and right-of-way acquisition for RM 1431 (Whitestone Boulevard) from Bagdad Road to Anderson Mill Road, and costs associated with the redevelopment of Bell Boulevard, otherwise known as the Bell Boulevard District Project.
A total of $52,695,000 has been issued out of the voter-authorized $63,000,000 for Proposition 1 (Streets). Projects that are substantially complete or are underway within these issued funds include:
- New Hope Drive (Cottonwood Creek to Ronald Reagan Boulevard) - construction is complete, ribbon was cut in June 2019
- Arrow Point Extension - construction is complete
- Arterial Overlay - construction is complete
- Bell Boulevard Redevelopment Project Phase One. The Bell Boulevard (US 183) Realignment Project will return the current Bell Boulevard (U.S. Highway (U.S.) 183) roadway east onto the full extent of Old Highway 183, from Cypress Creek Road to Cedar Park Drive in Cedar Park. Currently, Old Highway 183 is a two-lane roadway parallel to Bell Boulevard (U.S. 183), running generally north and south. Bell Boulevard will be realigned and relocated to the Old Highway 183 alignment and reconstructed to a four-lane divided roadway that includes a raised median with turn lanes at intersections and driveways
- The Texas Department of Transportation (TxDOT) marked the project complete and released this portion of roadway to the City in December 2021
- New Hope Drive from Ronald Reagan Boulevard to Sam Bass Road - construction expected to begin fall 2022 with estimated completion in spring 2024
- Anderson Mill Road Phase II. Four-lane roadway between Cypress Creek Road and Zeppelin Drive and from Gaspar Bend to RM 1431 - design is complete, but construction has been deferred
- County Road 272/Krienke Ranch Road Creek Crossing - completed Spring 2021
- RM 1431 (Bagdad to Anderson Mill Road) - design funded and began April 2022
- Brushy Creek Road (Arrowhead to Ranch Trail) - improvements and widening. Project deferred
- Toro Grande South Extension (Whitestone to Parmer) - design is funded
- 73% of vote
These bonds provide funding for public safety facilities for police and fire protection. These projects may include but are not limited to an expansion and renovation of public safety facilities for police and fire to create additional workspace, and the construction of Fire Station Number 5 which will service the north central/northeast portions of the City.
$7,550,000 has been issued out of the voter-authorized $7,550,000 for Proposition 2 (Public Safety):
- Fire Station 5 - complete and opened May 2019
- Located on Cottonwood Creek Trail, on land donated by Cedar Park Regional Medical Center, it serves the fast-growing north central and northeast portions of town and houses Firefighters and Williamson County EMS
- Fire Department Admin Building at City Hall - completed in 2018
- Police Station Building Expansion - this project was completed in November 2018
- City Hall Building 6 finish-out for Fire Administration - this project was completed in October 2017
- Police Building Roof Replacement. The Police Department's original facility was built in 2003. The existing roof had multiple leaks and has reached its end of life. Construction on the roof has recently started and will be finished in 2023.
- 59.86% of vote
These bonds provide funding for construction, renovation or other costs relating to the Public Library. This may include additional program space, classrooms and conference rooms, quiet spaces, new technology, capacity for more materials and a larger parking lot.
In early 2019, plans evolved to include the new library in the Bell District, as part of the Bell Boulevard Redevelopment Project. The Library will anchor the Bell District, which will feature approximately 16 acres of greenspace. It includes a creek and dozens of large 100 year-old-plus trees. The new library will be nestled among the trees to anchor the park.
$2,000,000 for design has been issued out of the voter-authorized $20,500,000 for Proposition 3 (Library). In November 2020 City Council selected Lake | Flato Architects, Inc. to design the new Library. Lake | Flato is an internationally-recognized firm responsible for exciting projects including the Pearl District and Witte Museum in San Antonio. The hallmark of their work is distilling what a community wants to be, into a building: creating a "great front porch for the city" and a "civic living room." Construction on the new building started in Spring of 2023. The new building is planned to open in 2024. Visit the New Library page for more information.
- 71.47% of vote
Park projects funded by these bonds could include but are not limited to the development of Lakeline Park property, additional trails and bike facilities, parkland, and developing park amenities.
All funds have been issued out of the voter-approved $5,650,000 for Proposition 4 (Parks). Construction began in August 2021 on the new more-than-200-acre park, project includes trails and bicycle facilities and was completed in March 2022. Phase One is complete. For more information on Lakeline Park, visit the Lakeline Park Project page.
How the Bond Package Was Developed
In 2015, the Cedar Park City Council appointed a 15-member Bond Advisory Task Force made up of community members. The Task Force had the charge of reviewing capital improvement projects, which were primarily taken from existing master plans, and preparing an overall recommendation package comprised of four categories to be considered for a General Obligation bond election.
During the process, the Task Force studied the City's various capital needs and considered long-range strategic plans related to City services and infrastructure. The Task Force engaged with the public throughout the process before finalizing its list of recommendations. View the 2015 Bond Advisory Task Force Summary Report (PDF).
History of Bond Program
Election results were made official on November 16, 2015, when Cedar Park City Council canvassed the votes in a Special-Called City Council Meeting. Visit the November 3, 2015 Special-Called Election page to see the official election results.
Some projects could begin soon; others are others are more long-term. The City planned for a five-to-seven year period for issuance of the bonds.
- What are bonds?
General Obligation Bonds are used by governments to finance public capital improvements such as roads, buildings, public safety projects, parks and public facilities.
- Why does the City of Cedar Park use bonds?
In Cedar Park we use bonds to maintain existing assets, manage growth and meet anticipated future demands. General Obligation Bonds require voter approval and are category-specific, meaning we can only finance what voters approve in the ballot language and can't mix and match categories, once approved.
- How are bonds repaid?
Bonds are repaid through ad valorem property taxes. An ad valorem tax is based on the assessed value of real estate or personal property.
- Will the proposed bonds impact our tax rate?
No increase to the tax rate associated with this proposed bond program is anticipated.
Based upon the City's economic forecasting models and strong financial position due to paying off older bonds, the City projects that it can issue the proposed General Obligation Bond package of $158.8 million, which includes cost escalation, inflation and issuance costs over the five-to-seven-year program, without increasing the tax rate.
- Can bonds be used for any other purpose than what's described in each proposition?
No. The bond initiative will be presented to voters in three categories:
- Parks and Recreation
- Public Safety
If a bond category is approved by voters, the approved funding may only be used for the specific category listed in the specific bond question. For example, approved Parks funding may not be used for Public Safety projects.
- If approved by voters, how soon could construction begin on bond-funded projects?
The bond program is designed to be implemented over a five-to-seven-year period, by issuing multiple series of bonds as various projects are ready for construction. If bonds are approved by voters, some projects could begin right away; others could be more long-term. Some projects may take multiple years to complete due to design, right-of-way acquisition and utility relocations.