Local entities seek approval of $7.86 billion in bonds

Because of volatility in the bond market due to the subprime mortgage lending crisis, municipalities with bonds to sell have been closely watching interest rates. The Houston Independent School District (HISD) recently held off on a bond sale until interest rates fell earlier this week to 4.7 percent. The delay will save HISD millions of dollars over the life of the bond.

Following are some of the largest bond proposals to be decided by voters on May 10:

• Dallas ISD is asking voters to approve a $1.35 billion bond proposal, the largest in the state. If it passes, the funds will be used for the construction of 15 new schools and replacement schools, additions and renovations, science labs and technology.
• The Lone Star College System's $420 million bond issue includes funding for instructional and student services facilities, traffic and safety projects, technology infrastructure, academic support facilities, administrative support facilities and plant system replacements.
• Lewisville ISD will have two bond propositions totaling $776 million on the May 10 ballot. Proposition 1 would provide $697 million for new schools, renovations, technology updates, a high school stadium, natatorium, career center and land purchases. Proposition 2 would provide $79 million for a new special events center.
• Klein ISD, located just north of Houston, is holding a $646.9 million bond election to fund the construction of new schools, land purchases for future school sites, renovations to existing schools and facilities and new buses. The proposal also includes $38 million for technology infrastructure, equipment and software.
• Plano ISD is holding a $490 million bond election, which is the district's largest to date. Funding would be used to build four new schools, for campus additions and renovations. In addition, the bond money would allow the district to purchase buses, security equipment and technology items such as servers, PCs, laptops and digital cameras.

For a comprehensive list of bond proposals to be voted on May 10, click here.