HISD to Ask for Approximately $4.5 Billion in Upcoming Bond Election
$4.5 BILLION! Whew! I'm having trouble reading this the news today with a straight face. Does HISD realize the optics of doing this now? Big OOF in my opinion, but then again, I'm not in school finance. Seems like the public opinion is at all-time low and so it's certainly going to make it tougher to get this bond referendum passed. The bond committee, often a mostly hand-chosen group of people, includes some heavy hitters in industry and politics. Here is the list of committee members along with qualifications:
https://www.houstonisd.org/Page/202247
Here are a couple of articles about the potential upcoming bond election:
There are some upcoming information sessions and I encourage every stakeholder to attend at least one of these.
Listen for details. Ask tough questions. Push for financial accountability. Fact check the anticipated property tax burden this is anticipated to place on property owners (sometimes bonds can be let with no long-term property tax effect and other times it can cost many "extra pennies"). Finally, having experienced this in neighboring district recently, pay close attention to the pro-bond donors. They'll likely contribute to the HISD Foundation or other charities so as to fund mass mailings and robocalls supportive of the bonds. The district is not allowed to try and sway you in your vote in either manner and must remain neutral, but it does not mean outside agencies closely related to HISD are bound by the same rules. You'll see a lot of contractors and engineers donate a lot of money in the hopes of "winning" contracts for construction if the bond passes. It is only my opinion that this is a conflict of interest and creates bias, but take notes in the event the bond passes so you can track which donors "get their money back. "
Do note that bond money mostly has to be appropriated to certain purposes and projects. It's not a "blank check" from the taxpayers, if you will. The money must be used for capital improvements, transportation items, facility upgrades, etc. These cannot be used for operating costs. So often, the money is needed for the districts and I can't argue that HISD does not need infrastructure improvements. Certainly it would benefit the kids and stakeholders to some degree. I just wonder about timing and also how much will be wasted in fees and inflated construction budgets.
Happy voting!
submitted by /u/ilaughatpoliticians
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