Corpus Christi city staff is proposing a $125 million bond package that would be the city's second-largest bond to date if passed during the Nov. 8 election.

During its regular meeting Tuesday, City Council unanimously approved 32 projects to be included in the bond package. It includes $92.5 million for streets, $20 million for parks, $10 million for public safety and $2.5 million for La Retama Library.

"We know that decades of neglect in our streets have led to where we're at today, which is a substandard transportation network," City Manager Peter Zanoni said. "We still have to put tremendous investment in our roadway system to get us past that."

The city last had a bond of more than $100 million in 2008, at $153 million, when the city proposed a bond every four years. Since 2012, the city has biennially approved and implemented two-year general obligation bond programs that consist of citywide infrastructure projects approved by voters.

The Bond 2022 program can be delivered without a city property tax rate increase. However, the city is expected to receive more property tax revenue due to increased appraisal values. Appraisal values have increased this year by 20% to 24% for residential properties and 26% to 30% for commercial properties.

During its Aug. 16 meeting, City Council plans to call for an election for the bond as a one-reading ordinance.

The new bond proposal comes two years after a successfully implemented bond in 2020. All 42 projects approved in the Bond 2020 program are currently in design. By November, more than half of the projects will be in construction or have a construction contract.

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