So, what are bonds anyway?
WHAT are general obligation bonds?
Cities fund major projects in several ways. One way is through voter-approved General Obligation (GO) bonds. Much like getting a home loan, GO bonds give cities a tool to raise money for capital improvement projects not otherwise funded by city revenue ─ projects like roads, parks, and public facilities.
What is the city of beaumont doing?
The Beaumont City Council has until Monday, August 18 to decide whether to put some — or all — of these projects on the ballot for the November 4, 2025 election.
If the city council decides to call a bond election and it’s approved by voters, bonds would be sold to investors and paid off using city property taxes -- both on homes and businesses. Debt isn’t issued all at once ─ the cost is spread out over many years and paid for by current and future citizens who use these parks, roads, or city buildings.