S chool Sets $4 Million Bond Election
The Glasscock ISD school board voted Feb. 27 to call a $4 million bond election for May 13. If the bond issue passes, the money will be used for several capital projects, including new roofing (with new air conditioning and heating units), a vocational/agricultural shop, classroom remodeling, and restroom renovation. The board is not yet sure exactly how much money those projects will cost, but it plans to sell only as many bonds as necessary to finance the work. Consequently, it is possible that the total bond indebtedness could be less than $4 million.
The board plans at least two public meetings to explain the necessity of the projects, advantages of paying for the projects with bond funds as opposed to using the school’s reserve funds, and to provide more specific figures regarding the cost of each project. Times and places for these meetings will be announced later. In addition, the board plans to mail explanatory material to taxpayers.
According to the board’s information, bond financing will enable the district to keep more of its tax dollars at home to pay for the bonds, rather than sending so much money out-of-district in WADA payments. If the projects are paid for with reserve funds, WADA payments are not reduced.
The next school board meeting is March 20 at 7 p.m. All meetings are open to the public.