The Libre Initiative has launched a petition in support of Texas House Bill 1489, which would limit the use of certificates of obligation (non-voted-approved debt) to a narrow list of public works.
In recent years, COs have been abused by local governments (such as the City of El Paso) and have resulted in a meteoric rise in property taxes for millions of Texas.
HB 1489 is sponsored by 11 Texas House Republicans.
Currently COs may be used for the “construction of any public work,” broadly defined.
Please consider signing this worthy petition: