What is a school bond?

A school bond is a contract to repay borrowed money on a given date and to pay interest at an agreed rate, similar to a home mortgage. Long-term financing is essential in the construction of school facilities.

Why is LISD holding a school bond election?

Our district’s enrollment increases between 1,000 – 2,000 new students each year. Today, our district serves more than 49,000 students and we will serve approximately 60,000 students by 2016. Based upon our district’s enrollment trend and the demographer’s report, our Board of Trustees called for a Bond Election to fund new facilities to help manage the growth in LISD.

How will the bonds be sold?

The bonds will be sold over a period of years to coincide with the cash-flow requirements of various construction projects. In other words, bonds will not be sold until they are needed.

If the voters approve both bond proposals, how will my tax rate be affected the first year?

During the 2009 - 10 school year, an individual’s taxes will increase approximately $5.80 per month based on a $200,000 home.

Will the bond referendum increase my taxes if I'm 65 years or older?

No, senior citizens who are 65 years of age or older and have filed for a “freeze” to be placed on their homestead school taxes will not be impacted by a tax rate increase. Seniors can contact their tax appraisal district to receive the senior citizen homestead exemption.

If the taxable value in the district continues to grow and new homes are being built everyday, why must we raise taxes and sell bonds?

The state has a formula defining how school districts are funded. As the district receives more local tax dollars, the state decreases its share of the funding, which makes the district have a flat budget.

Because the district’s annual operating budget remains flat, LISD must hold Bond Elections to borrow money to build facilities, renovate facilities, purchase technology, make capital improvements and acquire land. Bonds allow the district to pay back these costs over an extended period of time.

What if the bond referendum fails?

• Expanded use of portable buildings
• Possible future bond elections subject to unknown construction and interest rate costs

How long does the district have to repay the bonds?

The district uses 20 years for repayment of bonds for construction of facilities, even though the life of the buildings are much longer.

When was the last time the district passed a bond election, and what did the funds purchase?

The last bond election was passed on October 8, 2005 for $199,505,000. The bond funded the construction of Killian Middle School, the rebuild of Lakeland Elementary, 15 campus additions, land acquisition, capital improvements and technology. For a complete list of 2005 bond projects, visit the district’s website at www.lisd.net.

How will the district pay for new teachers after the schools are built??

The Maintenance and Operations (M&O) budget allocates funds for all staff salaries. The district must comply with the student-to-teacher ratio requirements of the Texas Education Agency. New teachers are hired due to increasing student enrollment and must be hired with or without new facilities.

If the bond package is approved, can we use the money to hire more teachers or give our current teachers higher salaries?

No, the bonds that are sold cannot be used to pay teacher salaries. By law, bond money can only be used for new facility construction, facility renovation, technology, buses and major capital improvements.

Why does LISD want a new stadium?

In order to provide equity among all of our high schools, the proposed stadium will be housed at Marcus High School. Currently, Marcus High School is the only high school that shares another school’s stadium.

What will the event center look like?

The special event center will be approximately 191,000 square feet with flexible seating. The center will be able to serve as a host site for LISD graduations, basketball and volleyball tournaments, campus performances, staff development sessions and community events.

Why do we
acquire land and not build a school on it
immediately?

This idea of buying property prior to needing the school built is called land banking. Land banking allows a district to purchase land at today’s price and hold the land until a school needs to be built.

What about the use of portables?

Judicious use of temporary buildings is part of Lewisville ISD’s overall facility plan and will continue to be used as long as the district is growing. Using temporary buildings in the interim allows the district to assess growth before constructing new campuses and to open new buildings with enrollments that are appropriate to make the campus cost-effective to operate.

What is the financial
impact for citizens if the bond passes?

Click here.