Dallas voters may be asked to approve nearly a billion dollars in debt this fall to help the city deliver a long-promised new police academy and help provide financial flexibility in making ongoing contributions to the city’s police and fire pension fund. The proposed $960 million bond is curre ntly split into three separate proposals, including $500 million in pension obligation bonds for the Dallas Police and Fire Pension System. Another bond proposal covers $443 million, including $82 million needed to fully fund a Law Enforcement Training Center on the UNT-Dallas campus. A groundbreaking for the facility is set for September 3, and despite active fundraising efforts and support from the state of Texas, Dallas City Manager Kim Tolbert told council on Wednesday, the funding gap remains. “Through all of the value engineering I’ve asked for this team (city staff) to do, come back and find every possible way to not have to ask the voters for anything else. And based on our work, to this point, that is the current gap,” Tolbert said. Jack Ireland, the city’s chief financial officer, told council voter approval of pension obligation bonds wouldn’t trigger the issuance of new debt, but would give city council the financial flexibility to approve its usage if interest rates improved in the future. During a council briefing Wednesday afternoon, councilmember Kathy Stewart says sending the bond proposal to voters in November would show the city is willing to back up promises made to first responders. “And I think if we phrase that well to the residents of this city, they will back us on that; this is necessary,” Stewart said. The ask comes two years after Dallas voters approved a $1.25 billion bond package covering infrastructure, including street repair and parks. Councilmember Adam Bazaldua says asking voters to support another bond package, including the conditional approval of pension obligation bonds, sends the wrong message. “It’s hard enough for us to decipher and educate our voters with the language that is required by state law, that will tell them their tax rates will go up with these bonds, but now we have to explain to them we’re asking you to approve half a billion dollars that we may not ever even touch or use,” Bazaldua said. “I’m adamantly opposed to this. I think it is absolutely fiscally irresponsible and I can’t wait to campaign against this if this council supports it and sends it to the voters.” A city council vote is set for August 12. If approved, any bond proposals would appear on the general election ballot on November 3. ...read more read less