|Ballot Proposition||The issuance of $16,918,000 of bonds by the Azle Independent School District for improvements to Hornet Stadium and levying the tax in payment thereof. This is a property tax increase.
La emisión de $16,918,000 en bonos por parte del distrito escolar independiente de Azle para mejoras al estadio Hornet y la imposición del impuesto para el pago de los bonos. Esto es un aumento al impuesto predial.
|If I vote FOR||The district will issue $16,918,000 in bonds.
|If I vote AGAINST||The district will not issue $16,918,000 in bonds.
|Tax Consequences||According to the district, if all three propositions are passed, “the average homeowner in Azle ISD will see an approximate increase of 12.16 cents in their tax rate, with the exception of senior citizens. Residents 65 and older who have applied for and received their ‘Over 65’ exemption will see no tax increase as a result of this bond.”
Proposition C on its own would add an approximate increase of 1.9 cents to the property tax rate.
|Background||In the next ten years, the Azle ISD student body is expected to grow by 30%, adding more than 2,000 new students. In order to address this growth, the district created the Long-Range Facilities Planning Committee, made up of taxpayers from across the district (parents and grandparents, current and former educators, civic leaders, and business owners). The Committee spent several months studying current facilities, demographics, financial information, and educational programs, which resulted in the bond proposal in Propositions A-C.|
|What projects would this bond cover?||Proposition C is focused on Azle High School’s Hornet Stadium, including the following projects:
- Increase home side stands to accommodate 5,000 people; add new restrooms and concessions to meet additional capacity
- New synthetic grass to replace aging surface on existing game field; construct full 8-lane track with runouts
- Increase visitor side stands to accommodate 2,000 people; add new restrooms and concessions to meet additional capacity
- Create new press box to be used by media, staff, and multiple district programs
|What is a Bond?||A bond is essentially an IOU. Instead of going to a bank to get a loan, like an individual might do, governments can issue bonds to raise money for specific projects. An investor buys a bond on the understanding that they will be paid back, in full and with interest, on a set date (limited by law to 40 years). In most cases, governments must seek voter approval to issue a bond|
|Resources||Contact Asst Superintendent Matt Adams
Azle ISD, “School Bond 2021” website link: http://azleisdbond2021.com (includes descriptions of bond projects as well as links to tax information and other bond program documents)