Charter Election Proposition S

Shall the Charter of the Town of Addison, Texas, be amended to clarify that the Town is authorized to issue debt for economic development purposes?

Impact

As the Town was preparing for the 2019 Bond Election, there was discussion regarding the issuance of bonds to purchase land in economically challenged areas of the Town for economic development purposes. The Attorney General's office reviewed the Town’s Charter and contended that the Charter did not grant the Town the authority to issue debt for economic development. This amendment would clarify that the Town can issue debt to encourage economic development. Such debt would still need to go through the approval processes required depending on the specific type of debt that is being considered at the time.