Either that, or your tax rate WILL go up after all.
If you believe that DISD will keep their promise and not raise the tax rate for this, then you are voting to give half the bill to today’s Pre-K kids.
Does it bother you that the Pre-K students we would like to see in the new Pre-K classrooms will end up footing the bill? It bothers me. It really, really bothers me.
Either DISD is lying and will raise the tax rate later to cover the bond, or half of the $1.6B is due in 20 years. Assuming DISD isn’t lying to voters, let’s just focus on the scenario where they keep their promise:
This document says there will be a balloon payment due in twenty years. Trustee Blackburn said on a radio show last week that the debt has the option of stretching out a total 40 years, which eliminates the balloon payment, but still puts the bill squarely at the feet of today’s children.
Kudos to DISD for trying to find a way to keep the repayment of the bond inside the constraints of the current tax rate. Problem is, $1.6 Billion is a huge amount of money, and it just can’t be kept in those bounds. Either the tax rate has to rise to cover it, or debt gets stretched out so far, our little Pre-K kids get stuck with $800 Million dollars. Yes, half the entire bill.