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FAQs
FAQs
How can bond money be used?
How can bond money be used?
Proceeds from a bond issue can be used for the construction and renovation of facilities, the acquisition of land, and the purchase of equipment, school buses, or vehicles for security purposes.
Proceeds from a bond issue can be used for the construction and renovation of facilities, the acquisition of land, and the purchase of equipment, school buses, or vehicles for security purposes.
Why are bonds used to finance non-facility items?
Why are bonds used to finance non-facility items?
It is a financial advantage to the district to pay for some capital expenditures such as technology, buses, land, and portable buildings with bond money rather than from the General Fund. First, the cost of the purchases can be spread over the life of the asset rather than coming from a single year’s General Fund. In addition, taxes that are levied for bonded debt are not subject to the same recapture formulas that reduce state funding based on General Fund tax revenues.
It is a financial advantage to the district to pay for some capital expenditures such as technology, buses, land, and portable buildings with bond money rather than from the General Fund. First, the cost of the purchases can be spread over the life of the asset rather than coming from a single year’s General Fund. In addition, taxes that are levied for bonded debt are not subject to the same recapture formulas that reduce state funding based on General Fund tax revenues.
The district sells bonds that mature at different times, so bond expenditures for items with a shorter lifespan are paid off before the purchase becomes obsolete.
The district sells bonds that mature at different times, so bond expenditures for items with a shorter lifespan are paid off before the purchase becomes obsolete.
What is a bond election?
What is a bond election?
A school bond election gives individuals an opportunity to vote on paying for the construction and renovation of school facilities. It is a request to give the elected Board of Trustees the authority to sell bonds when facilities are needed.
A school bond election gives individuals an opportunity to vote on paying for the construction and renovation of school facilities. It is a request to give the elected Board of Trustees the authority to sell bonds when facilities are needed.
What is the difference between a bond authorization and bond sales?
What is the difference between a bond authorization and bond sales?
A bond authorization specifies the amount of bonds the district is authorized by the voters to sell. Bond sales may occur over a period of time with the date and amount of each sale determined by the Board on an as-needed basis.
A bond authorization specifies the amount of bonds the district is authorized by the voters to sell. Bond sales may occur over a period of time with the date and amount of each sale determined by the Board on an as-needed basis.
How will this bond election affect homeowners who are over 65?
How will this bond election affect homeowners who are over 65?
School district taxes on resident homesteads may be frozen in the year the taxpayer turns 65 years of age and will not increase as a result of a school bond election.
School district taxes on resident homesteads may be frozen in the year the taxpayer turns 65 years of age and will not increase as a result of a school bond election.
Will approval of the bond issue result in a tax increase?
Will approval of the bond issue result in a tax increase?
There is a requirement for all Texas School bonds that the following statement be included on the ballot: “Pursuant to Section 45.003 of the Texas Education Code: “The issuance of bonds … must include the following statement: “THIS IS A PROPERTY TAX INCREASE.”
There is a requirement for all Texas School bonds that the following statement be included on the ballot: “Pursuant to Section 45.003 of the Texas Education Code: “The issuance of bonds … must include the following statement: “THIS IS A PROPERTY TAX INCREASE.”
However, if approved by voters, the 2021 Bond Package will produce “NO CHANGE TO THE TAX RATE” for Los Fresnos CISD taxpayers.
However, if approved by voters, the 2021 Bond Package will produce “NO CHANGE TO THE TAX RATE” for Los Fresnos CISD taxpayers.
WHAT THIS MEANS: The property tax for residents does not change, although the length of time our community pays on existing and new school district debt is extended because the outstanding total has increased.
WHAT THIS MEANS: The property tax for residents does not change, although the length of time our community pays on existing and new school district debt is extended because the outstanding total has increased.
Please check back for more updates.
Please check back for more updates.
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