The Board of Directors of Cypress Hill MUD No. 1 has called a bond election on May 5, 2018. The District’s Board of Directors would like to provide you with the following information concerning the election:
What is Cypress Hill Municipal Utility District No. 1? Cypress Hill MUD No. 1 is a unit of local government, often referred to as a MUD. Its main responsibility is to provide water, wastewater, and drainage to all the land within its boundaries. It also provides trash, recycling, supplemental law enforcement, and parks and recreational facilities. It is managed by a five-member Board of Directors, whose members live or own property in the District.
What is a bond election? Before it can issue bonds payable from taxes, a MUD must hold an election and ask voters to authorize it to issue bonds. The Cypress Hill MUD No. 1 Board of Directors has called a bond election for May 5, 2018.
Why did the MUD Board call a bond election? Cypress Hill MUD No. 1 was created in 1979 and some of its infrastructure is almost 40 years old. The District has financed all of its water, sewer and drainage system through the issuance of bonds and has used up all its bond authorization. The Board believes that it would be beneficial to the District to have the ability to issue bonds in the future to finance major projects, such as replacement of aging infrastructure and modernizing its water and sewer systems, rather than having to raise sufficient funds to pay for such projects on a “pay as you go” basis.
What would happen if the bond election passes? If the bond election passes, then the Board of Directors will have the flexibility to determine the best way to finance future projects and can issue bonds if it determines that is the fairest and most economical way to finance a new project. The District is not required to issue bonds, but the bond election allows it to do so.
Will my taxes go up if the bond election passes? The District’s Board intends to issue bonds only if it can structure its debt service in a way that does not raise the tax rate.
Who can vote? To be eligible to vote in the District’s election, a person must be a qualified voter in the District. The District will receive a list of those qualified to vote in the District’s election from the Harris County Voter Registrar.
What are the election details? The location, dates and hours of early voting and regular voting are found in the Notice of Election being posted to the District’s website at www.cypresshillmud1.com. Look under the “Latest News” tab.
Where can I get more information? We have scheduled a public informational session on the bond election at 6 p.m. on Monday, April 9, 2018 at the Cypress Mill Recreation Center located at 14710 Mills Park Lane, Cypress, Texas 77429. Please check the District’s website under “Meetings-Meeting Agendas” to confirm the arrangements.
By Cypress Hill MUD 1|
2018-03-29T12:54:21+00:00 March 29th, 2018|Categories: Bond Elections- Spanish|Comments Off on INFORMACIÓN REFERENTE A LA ELECCIÓN DE BONOS DEL DISTRITO DE SERVICIOS PÚBLICOS MUNICIPALES NRO. 1 DE CYPRESS HILL
By Cypress Hill MUD 1|
2018-03-29T12:54:04+00:00 March 29th, 2018|Categories: Bond Elections- Mandarin|Comments Off on THÔNG TIN VỀ CUỘC BẦU CỬ TRÁI PHIẾU CỦA CƠ QUAN DỊCH VỤ TIỆN ÍCH THÀNH PHỐ SỐ 1 CYPRESS HILL
Order Calling Bond Election was duly introduced for the consideration of the Board and read in full. It was then duly moved and seconded that such Order be adopted; and, after due discussion, such motion, carrying with it the adoption of such Order, prevailed and carried by the following votes:
TO THE DULY QUALIFIED RESIDENT ELECTORS OF CYPRESS HILL MUNICIPAL UTILITY DISTRICT NO. 1 AND TO ALL OTHER INTERESTED PERSONS:
Notice is hereby given that an election will be held in and for Cypress Hill Municipal Utility District No. 1 (the “District”) bewteen 7:00 a.m. and 7:00 p.m. on May 5, 2018, at the following polling place: 14623 Plains River Drive, Cypress, Texas 77429.