2010 City of Crandall Bond Election

WHAT ARE MUNICIPAL BONDS?

• Bonds are a City’s way of borrowing money, just as a homeowner might borrow money to remodel a kitchen or add a bathroom.

• Cities sell bonds to raise money for capital improvement projects like libraries, fire stations, recreation centers, bridges, erosion projects, street projects, and drainage projects, etc.

• Typically, bonds are not used for equipment or personnel, such as buying fire trucks or hiring extra police officers.

• Bond items usually have a life of more than 10 years.

• Bonds must be used for the purpose specified.