FAQs

What is a school bond?

A bond is similar to a home mortgage. It is a contract to repay borrowed money with an interest rate over time. Bonds are sold by a school district to competing investors to raise funds to pay for the costs of construction, renovations and equipment. Most school districts in Texas utilize bonds to finance new facilities and renovations.

What is a bond election?

School districts are required by State law to ask voters for permission to sell bonds to investors in order to raise the capital dollars required to build a new school or renovate existing buildings. Essentially, it’s permission to take out a loan to build and renovate and pay that loan back over an extended period of time, much like a family takes out a mortgage loan for their home. A school board calls a bond election so voters can decide whether or not they want to pay for proposed facility projects.

How can bond funds be used?

Bond funds can be used to pay for new buildings, additions and renovations to existing facilities, land acquisition, technology infrastructure and equipment for new or existing buildings and large‐ticket items such as school buses. Bonds cannot be used for salaries or operating costs such as utility bills, supplies, building maintenance, fuel and insurance.

Why pass a bond now?

Maintenance costs continue to rise on GISD aging facilities. Therefore, GISD has worked proactively to develop a Facilities Improvement Plan. This plan identified both the current state of the District’s facilities as well as its future. The District anticipates a growth in its properly tax base with new solar electric generation projects being built in the District; the tax revenus from these projects will offset the cost of school bonds for Goliad ISD homeowners.

What does the Bond include?

This plan includes necessary replacements and improvements to all facilities roofs, technology infrastructure, cafeteria rennovations, campus marquees, bathroom remodeling, and safe campus entrances. The HVAC systems are reaching the end of their useful life. (Age, maintenance, cost/repair...energy efficient units) and this plan includes replacing aging equipment and out of commission units district wide. Additional renovation projects for student and staff workspaces are included at GES, GMS, and GHS are included in Proposition A. Furthermore, Proposition A includes career and technology education lab spaces to support students earning industry based certifications.

Proposition B is focused on the construction of a new Goliad Middle School campus. The current facility, originally an elementary school, was built in 1966 and does not have operational science labs, working cafeteria facilities, ample drainage, safe doubled entrances, or ADA compliant restrooms. Proposition A has an estimated $8million dollars to repair the current middle school campus, which would not be necessary if Proposition A and B both pass.

How much is the Bond and how long will it be financed?

The bond will have two propositions: Proposition A is for $38,000,000 and Proposition B is for $ 35,000,000. The two bond propositions total $73,000,000. Proposition B includes a new middle school. If both proposition A and B are approved by the voters, certain renovations for the existing middle school will not be required. The District Estimates that $8,000,000 in renovation projects current contained in Proposition A will net be required if Proposition B is approved. If both Propositon A and B are approved total Bond will be

The bond will be financed in a 30-year bond level structure.

Items that have a short life will be paid out first.

How are funds used for the District?

School district finance operates out of two funds: Maintenance and Operations (M&O) and Interest and Sinking (I&S).

M&O funds are for salaries, instructional materials, utilities, and daily operations.

I&S funds (Bond money) can only be used for capital improvements, not for salaries or daily operations.

What areas of the Distict will the Bond impact?