Timeline
The proposed 2027-2032 Bond program would go before voters in a May 2027 election. Below is a general timeline of events leading up to election day.
May 2027
June - August 2026
- Project Scoping & Cost Estimating
- Coordination with City Boards
September - October 2026
Mayor and City Council Briefings and Action
November - December 2026
Bond Committee Meetings
January - February 2027
Mayor & City Council Action
May 2027
Bond Election Public Vote
Bond Program Overview
The City's long-term Debt Management Plan includes a General Obligation Bond Program every five years to fund major capital infrastructure projects throughout the City. In May 2027, San Antonio residents will consider a $442 million municipal bond program. If approved by voters in May 2027, the city-issued debt will support key infrastructure projects in four categories: Streets, Bridges and Sidewalks, Parks and Recreation, Facilities, and Housing. There is no recommended increase in the City’s Ad Valorem Tax Rate to support the 2027-2032 Bond Program.
Storm Water Revenue Bond
The Storm Water Revenue Bond is a separate $208 million Storm Water Revenue Bond, supported by a proposed Storm Water Utility Fee Increase will be used for Drainage & Flood Control projects. Unlike General Obligation Bonds, which are repaid through property tax revenues and require voter approval, Storm Water Revenue Bonds, the proposed fee increase, and proposed projects will be approved by City Council.
Community Input Process
The proposed 2027-2032 Bond Program will include extensive public input. This includes public meetings convened by the Community Input Committee for each category with resident members appointed by the Mayor and City Council. Public comment will be accepted at these meetings as well as online via SASpeakUp.
Frequently Asked Questions (FAQs)
2027 Bond FAQs
- How big is the General Obligation Bond Program for 2027?
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The 2027-2032 Bond Program is anticipated to be $442 million to be used towards the following categories of projects: Streets, Bridges & Sidewalks, Parks & Municipal Facilities and Affordable Housing. An additional $208 million from Storm Water Revenue Bonds supported by a Storm Water Utility Fee increase will be used for Drainage & Flood Control projects.
The size of the bond is based on several factors such as future estimates on the values of property, the state of the economy and the City's ability to repay the debt responsibly.
- Will the City's Property Tax rate remain the same or go up with the 2027 Bond Program?
- The City is not proposing to raise the property tax rate to pay for the 2027-2032 Bond Program. The debt service portion of the tax rate will stay at $0.21 per $100 valuation. However, the City proposes to raise the Storm Water Utility Fee, charged as a fee on water bills from SAWS, to pay for drainage and flood control projects.
- How will the Community Input Committees make decisions about projects?
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City staff have studied infrastructure needs throughout the community and developed a menu of possible projects in coordination with City Council to present to the committees. There will be 4 committees:
- Streets, Bridges & Sidewalks
- Drainage & Flood Control
- Parks & Municipal Facilities
- Housing
Mayor and City Council each appoint three residents per committee for a total of 132 appointments. The committee process is overseen by three “Tri-Chairs”, who also serve as public-facing representatives of the 2027 Bond and Storm Water Revenue Bond.
The committees will hold more than 12 meetings from November to December 2026 to develop a list of recommended projects. Their list is sent to the Mayor and City Council for final approval in January 2027.
- When is Election Day?
- The election will be on Saturday, May 1, 2027. You can vote at any voting location in Bexar County.
- Do residents vote for the entire bond program with one vote?
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No, the 2027-2032 Bond Program will be split into groups called propositions, based on the type of project. For the 2022 Bond, the propositions were:
- Streets, Bridges & Sidewalks
- Drainage & Flood Control
- Parks & Recreation
- Public Safety Facilities
- Affordable Housing
- Library & Cultural Facilities
- When will I start seeing project construction begin?
- Some projects are ready to being construction shortly after voters approve the bond, while others would require 1-2 years for planning, design and buying land. The goal is for all bond projects to finish within the 2027-2032 timeline.
General FAQs
- What is the City's Credit Rating and why is it important?
- A City's credit rating is like a person's credit score: it is a rating of how stable the City's finances are for borrowing money. Higher ratings mean the City enjoys low interest rates and can borrow at a lower cost to taxpayers. The City has a "AAA" bond rating, the highest grade possible, from the credit rating agencies Standard & Poor's and Moody's. The City has an "AA+" bond rating from Fitch Ratings.
- What can General Obligation Bonds (G.O. Bonds) be used for?
- G.O. Bonds allow the City to pay for large capital projects for publish purposes, like roads, buildings and parks. The City borrows money by selling bonds to investors. The money earned from these sales is used to pay for projects in the bond program. Money from bonds must be used for build projects and cannot be used for operating employee salaries, maintenance or programming. These operating costs must be paid for by the City's General Fund, which is supported by general taxes, fees or CPS Energy revenues.
- Why do you issue bonds to pay for City projects rather than pay for projects with cash?
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The community has many large projects that are recommended to be built; playgrounds for parks, improvements to roads and sidewalks, drainage channels for flood control and a new police substation are just some examples of projects done during the Bond Program.
These projects are expensive to build despite their need, so the City borrows money to build and pays it off over time. If the City were a household, the annual budget covers the groceries and other day-to-day expenses (salaries, maintenance, supplies, etc.). Selling bonds to pay for bond projects would be like taking out a loan to buy a home or car. Visit Management & Budget for more information on the City's annual budget.
- How are funds repaid that are received through the issuance of General Obligation Bonds?
- General Obligation Bonds are backed by the full faith and credit of the City of San Antonio, which means that the City is obligated to pay back the bonds plus interest by pledging its ad valorem taxing power. As such, the City uses a portion of its property tax revenues to repay the General Obligation Bonds in the form of annual principal and interest payments.
Funding
The City dedicates a portion of its property tax revenues to repay debt incurred for bond-funded improvements. Historically, the City has structured bond programs around maintaining a fixed debt service tax rate.
The proposed 2027-2032 Bond program does not call for a City property tax rate increase. The City plans to borrow the $442 million over five years, allowing the bond program to be funded within the current City property tax rate based on current projections.
An additional $208 million from Storm Water Revenue Bonds supported by a Storm Water Utility Fee increase will be used for Drainage and Flood Control projects.
Bond Project Selection
The projects in the proposed 2027-2032 Bond Program will be vetted and prioritized by the community and approved by City Council based on the guiding principles of:
- Plan Alignment
- Public Health & Safety
- Resiliency
- Economic Viability
City staff are studying infrastructure needs throughout the community and developing a list of potential projects to be presented to the City Council and Community Input Committees. The Committees will hold a series of public meetings and develop a list of recommended projects. That list will be submitted to Mayor and City Council for their consideration.