What is a bond election?
If voters approve a bond election, it authorizes the District to sell bonds to raise money for capital projects and other long-term items. Most school districts in Texas use bonds to finance renovations and new facilities.
Bonds are sold over a period of years to reduce the impact on the tax rate. Lamar CISD strategically manages the timing of bond sales and monitors property value growth to control the tax rate.
How can bond money be used?
Bond funds can only be used for the construction, acquisition and renovation of school buildings, the acquisition of land and the purchase of capital equipment such as technology and school buses.
Bond funds can't be used to pay for unrelated regular operating costs such as salaries, supplies, utilities, etc.
Lamar CISD had a bond in 2017, why is the District holding another bond election?
Lamar CISD is the fifth fastest growing school district in Texas. According to the 2020 Demographic Report, Lamar CISD is projected to add 20,000 to 29,000 students over the next decade and need an additional 12 schools to keep pace with this growth.
The District also developed a Long-Range Facilities Master Plan, using information collected from staff, a Facility Assessment Report and the Demographic Report, that identifies and prioritizes renovation needs at facilities across the District.
What is included in the 2020 Bond?
Due to recent legislation, the 2020 Bond will be separated into four propositions on the November ballot.
Proposition A includes new school facilities, renovations to more than 30 campuses, school buses, safety and security enhancements, technology infrastructure, and land.
Proposition B includes new practice pools at Terry and Randle high schools.
Proposition C includes a second District stadium and land for the stadium.
Proposition D includes technology equipment for students and staff, including laptops and desktop computers.
The majority of the 2020 Bond is for new facilities and land, renovations and safety and security. To view a list of all items proposed to be addressed by the bond, click here.
How was the cost of the second stadium calculated?
To estimate the cost of a second stadium, Lamar CISD looked at comparable stadiums in the area such as Clear Creek ISD, Tomball ISD, and Alvin ISD, and added construction cost increases from when they were built until 2020. The District then estimated construction cost increases based on selling the bonds and beginning construction in 2023.
The location for a second stadium has not been determined.
Bonds are sold over a period of years to reduce the impact on the tax rate. Lamar CISD strategically manages the timing of bond sales and monitors property value growth to control the tax rate.
Who decided which projects would be in this bond proposal?
A 61-member Citizens' Bond Advisory Committee, composed of community members from across the District, met virtually in April and May to study growth and demographic trends, and review current and future needs. In June, the committee recommended the Board call a bond election.
All of the data, reports and information provided to the committee is posted on the District website here.
If the bond election is passed, does Lamar CISD immediately take on the debt?
The District does not take on debt until the bonds are actually sold. Lamar CISD strategically manages the timing of bond sales to reduce the impact on the tax rate.
Since 2003, Lamar CISD has passed five bond elections totaling more than $1.3 billion and has maintained a steady total tax rate for the past decade, with a decline in the total tax rate in each of the last two years.
If a bond referendum is approved, is the District obligated to spend the money?
No, voter approval is an authorization for the District to sell bonds. The bonds are sold in the future only when funds are needed. The Board of Trustees will have to take action to authorize each bond sale after approval of a bond referendum.
How will this bond election affect homeowners?
If all four propositions pass, Lamar CISD residents with a taxable value of $75,000 could see an estimated debt service tax increase of approximately $5 a month, or $60 a year after all bonds have been issued. The amount would increase above $60 a year with increased property valuation.
However, senior citizens whose property taxes are frozen would not be impacted by the bond.
When will the election be held and where can I vote?
Early voting for the 2020 Bond election is from Oct. 13 – 30. Election Day is Tuesday, Nov. 3.
You can find a list of polling locations at www.fortbendvotes.org.