|Ballot proposition||The issuance of $168,500,000 of bonds by the Godley Independent School District for the construction, renovation, acquisition and equipment of school facilities in the District, including the acquisition of new school buses, the retrofitting of the school buses with emergency, safety or security equipment, and the purchase or retrofitting of vehicles to be used for emergency, safety or security purposes, and levying the tax payment thereof. This is a property tax increase.
La emisión de bonos por el importe de $168,500,000 por el Distrito Escolar Independiente de Godley para la construcción, la renovación, la adquisición de nuevos buses escolares, la modernización de buses escolares con equipos de emergencia, seguridad o protección, y la compra o modernización de vehiculos para uso con fines de emergencia, seguridad o protección, y la imposición de impuestos para el pago de dichos bonos. Esto representa un incremento en el impuesto predial.
|If I vote FOR||The district will issue $168.5 million in bonds.|
|If I vote AGAINST||The district will not issue $168.5 million in bonds.|
|Tax consequences||According to the district, “Due to a new state law, you will see ‘This Is a Property Tax Increase’ on your ballot. However, the GISD tax rate will not increase as a result of this bond election. This is standard language required on all school bonds, meaning taxes will have to be levied in order to repay the bonds. However, GISD can make all existing and new bond payments with the $0.50 I&S tax rate residents are currently paying.”|
|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.|
|Background||In 2015, Godley ISD passed a $50 million bond initiative. Bond projects included a new Godley High School, an ag facility, and campus and technology improvements; all were completed on time and within budget.
Godley ISD is considered a fast-growth district. It has grown by over 650 students in the past five years and is projected to grow by an additional 1,000 students in the next five years.
In October 2020 the district formed a Facilities Planning Committee, made up of a cross-section of parents, non-parents in the community, and staff. Over several months the committee gathered information and assessed projects based on district priorities, and developed the plans for the present bond package
|What projects would these bonds cover?||The projects included in the bond package total $168.5 million and will be constructed in two phases.
Bonds in the amount of the district’s current financial capacity will be sold upon voter approval in order to complete the projects in Phase 1.
Phase 1 projects:
Bonds for Phase 2 projects will be sold as additional financial capacity becomes available in the district, due to repayment of previous debt, district growth, and a higher tax base.
Phase 2 projects:
“Godley ISD Bond Election” link: https://www.godleyisdbond.com (includes descriptions of bond projects as well as links to tax information, FAQs, and other bond program documents)