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Q. What is bond?
A. It is an obligation to repay money borrowed by the school district. The money is usually paid over a period of 40 years.
Q. What is a bond election?
A. It is a special election where the voters are asked to decide whether or not to authorize the board of trustees to borrow money (issue bonds) for educational facilities. Bonds cannot be issued unless authorized by a majority of the qualified voters voting at the election.
Q. How much money are the voters being asked to authorize at the May 10, 2008 bond election?
A. $49,900,000
Q. What will the bond cost the district?
A. The State of Texas will currently pay for approximately 85% of the bond, and the district will pay for approximately 15%. This means: state share at 85% is $42.4 million and district share at 15% is $7.5 million.
Q. What will the bond cost me?
A. The total cost of the bond is $49.9 million dollars (district share $7.5 million). This means:
$15.63 per year increase in taxes for a $40,000 home ($1.30 per month)
$62.50 per year increase in taxes for an $115,000 home ($5.21 per month)
Q. Will homeowners that are 65 years of age or older be affected by the new tax rate?
A. No. Homeowners over the age of 65 are eligible for a special homestead exemption that creates a tax ceiling on their homes for school taxes. This exemption prevents school taxes from increasing on the home as long as ownership of the home does not change. The tax ceiling is set at the amount paid in the year the over-65 homeowner exemption is issued. School taxes on the home are allowed to fall below the ceiling, but cannot rise above it. Tax ceilings may go up if the home is modified, renovated or if ownership of the home changes out over time.
Q. If approved, what will be purchased with the funds from the bond?
A. w Land acquisition for a secondary campus (11th and 12th grade)
w Construction of a secondary campus (11th and 12th grade)
w Construction of a new agriculture education facility
Q. Why is a secondary campus (11th and 12th grade) needed?
A. Several of the schools at the secondary level are above their capacity and to prepare for future growth. Currently the district is housing 63 classrooms in portable building at the secondary level.
Q. Who will be housed at the current high school?
A. The district will move all 9th and 10th grade students to the current high school building.
Q. What will Todd be utilized for?
A. Once the 9th grade students are moved into the current high school building, Todd will be converted into a middle school to alleviate the overcrowding at the middle schools.
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