Voters to decide $1.88 billion in bonds on Nov. 3
. . . continued from page one
- Arlington ISD is asking voters to approve $197.5 million for district-wide repairs and renovations, a new elementary school campus, technology equipment, buses, fine arts equipment and uniforms.
- Brazosport ISD is requesting voter approval of $166.3 million for three replacement campuses, a new natatorium, security enhancements, technology improvements and transportation.
- Wylie ISD has three propositions totaling $80 million for fiber optic and security upgrades as well as district-wide renovations.
- The Clear Lake Water Authority has $58 million on the ballot for the rehabilitation and upgrade of existing facilities, hurricane emergency preparedness and the purchase of property.
Other bond funding is currently available to local entities via two federal Recovery Act programs: Qualified School Construction Bonds (QSCBs) and Build America Bonds (BABs). The QSCBs will provide up to $1 billion in low- to no-interest bond funding to selected Texas school districts. School districts have approximately six months to issue the bonds and many have already initiated that process, including the following:
- Huntsville ISD: The district applied for $7.8 million in bonds for use on high school facility projects.
- Plano ISD: The district was notified of its award in August and is working with its financial advisor in the issuance of this debt.
- Some districts, such as Calvert ISD, are asking for voter approval to issue their QSCB funding.
The BAB program allows state and local governments to issue taxable bonds and to receive a 35 percent interest subsidy from the federal government. In recent months, more than $2 billion has been marketed for projects in the North Texas region alone. Recent issuances by Texas entities include the following:
- $705 million by the Dallas County Hospital District to help pay for the new Parkland Memorial Hospital.
- $250 million by The University of Texas System, which is in addition to the $331 million issued earlier in the year to help restore facilities damaged by Hurricane Ike.
- $62.1 million by Spring Branch ISD, which was part of an overall $125 million bond issue for the district's building program.
To view a report of all Texas local government bonds up for election on Nov. 3, click here and look under "Recent Reports." Be sure to check next week when the Texas Government Insider will provide you with the bond election results.
