Members of the Beeville Water Supply District board of directors voted unanimously during a noon meeting Thursday to propose the effective property tax rate of $0.17127 for each $100 of assessed value.

That rate is down slightly from last year’s tax rate of $0.17611 per $100 but it is expected to bring in the same amount of tax revenue that the previous rate levied of slightly more than $600,000.

Interim City Manager Joe B. Montez included work sheets and tax information provided by Bee County Tax-Assessor Linda Bridge in the packages distributed to the three board members present.

He said he was recommending that the members approve the effective rate because it would provide the district with the money it will need next year to make its final payment on the $10 million bond issue sold almost 30 years ago to finance the construction of the city’s surface water system.

“At this point, we really do not need a tax increase,” Montez said.

He and Assistant City Manager and Finance Director Robert Aguilar explained that the $1.5 million final payment could be made with the anticipated $600,000 in tax collections and funds in a reserve account that the city has maintained during the life of the bond.

“We will be fulfilling our obligation for P&I (principal and interest),” Montez said.

Aguilar explained that it would be difficult to give final approval to any rate above the effective rate because that would require public notices or public hearings that would be difficult to arrange with the amount of time left in the tax rate process.

Aguilar said the district will still have about $135,000 left in the reserve account after making that bond payment and that could be used to help pay any unwarranted expenses or unexpected decreases in revenue.

“It’s good stewardship of our public funds,” said BWSD Board Vice President Bill Stockton. He presided over the meeting in the absence of President Jim Crumrine.

Board member Clyde Lacy made a motion to propose the effective rate and fellow board member Ronald “Buddy” Hardy seconded that motion. All three members present voted in favor of it.

Board member Bill Grigsby was not at the meeting.

Board members then voted to accept a proposal from Crawford and Company, a San Antonio accounting firm, to conduct the district’s 2008-09 financial audit.