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Carrollton outlines $235 million bond package and schedules May 2 election
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Summary
City CFO Diana Vaughn briefed council on a five-proposition $235 million bond package to be voted May 2, 2026, including $164.5 million for streets; staff said bonds will be sold as needed to preserve a stable debt-service tax rate and that early voting begins April 20.
Carrollton’s finance chief told the City Council that voters will decide a five-proposition $235 million bond package on May 2, 2026.
Diana Vaughn, the city’s chief financial officer, told council the ballot will include Proposition A, $164,500,000 for streets and related improvements; Proposition B, $32,345,000 for public safety facilities (including two new fire stations and police facility enhancements); Proposition C, $26,530,000 for parks and recreation projects; Proposition D, $7,850,000 for municipal court improvements; and Proposition E, $3,775,000 for library facility upgrades. "The bond election will be held on Saturday, 05/02/2026," Vaughn said.
Why it matters: Vaughn said the city times bond sales to match construction needs to avoid paying excess interest and to maintain a stable debt-service tax rate. Carrollton aims to protect its AAA stable rating, which helps reduce borrowing costs. Vaughn also noted that voter approval authorizes the city to issue bonds but the city typically sells debt incrementally "as they become necessary," rather than selling the full authorized amount at once.
Key details and transparency: Vaughn said early voting begins April 20 and the city has published a voter guide and informational video on the city website. She directed residents to the city’s debt transparency site and the continuing disclosures in the ACFR for details on bond sales, timing and project schedules. She noted Denton County has committed $24 million toward one street project that appears on the list and that the bond language is required by Texas law to disclose that the measure is a tax increase.
Process and cost control: Vaughn described Carrollton’s conservative approach — selling mostly tax-exempt bonds with 15–20 year maturities to limit interest expense and timing issuances to minimize arbitrage risk. She said project lists are engineering estimates that will be refined in design; if inflation or costs change, PayGo or other funding sources can fill gaps so voters’ authorizations remain dedicated to the original purpose.
Next steps: The city will proceed with outreach materials, and the council’s companion agenda items authorize bond tranches for the planned sales. Early voting begins April 20; the bond election is May 2, 2026.
