Early voting begins this week and in Mabank ISD that means it is time for voters to decide on a $10 million bond.
I learned a few things about this bond proposal at a town hall meeting held last Thursday, such as:
1. The Cost
In a reverse from most school bonds I’ve covered, the price tag came first in this proposal. Simply put, Mabank ISD currently has the chance to pass the $10 million bond without raising taxes.
How? According to officials, it is because the school district has been able to restructure current bonds to save money.
Assistant Superintendent Scott Adams said, “No tax increase is needed to repay the increased amount of debt MISD is seeking due to the use of bond refunding savings, along with using the current Debt Service Fund Balance to fund any balance needed above the current tax levied….”
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