Frequently Asked Questions
What is a bond election?
Bond elections are called by school districts to ask voters for permission to sell bonds in order to obtain money required for capital projects such as renovations or building a new school. Essentially, when voters approve a bond election, they give the school district permission to take out a loan and pay that loan back over an extended period of time, much like a family takes out a mortgage for their home.
How can bond funds be used?
Bond funds can be used to pay for new buildings, additions and renovations to existing facilities, land acquisition, new buses, technology infrastructure and equipment for new or existing buildings. Bonds cannot be used for salaries or operating costs such as utility bills, supplies, building maintenance, fuel and insurance.
Did Peaster ISD pass a bond election in 2018?
Yes. The district passed the May 2018 bond election with 77% of voters in favor of the referendum.
What's the difference between the 2018 and 2019 bond elections?
The May 2018 bond election asked voters for authorization to fund the following projects: upgraded security systems, technology, HVAC, other mechanical systems, new buses, and renovations to the cafeteria, library and restrooms.
The May 2019 bond election is asking voters to consider three projects: a new academic wing to accommodate the growing student population, a new auxiliary gym and a fieldhouse.
What is the tax impact of the 2019 bond?
If approved by voters in May, the maximum tax rate impact of this bond is anticipated to be 5 cents, for a total tax rate of $1.49 per $100 of property valuation. For the average Peaster home value of $164,455, this represents a monthly tax increase of $5.81. Visit the Tax Information page to learn more and to calculate the amount for your home.
Who can I call to get more information?
Contact Peaster ISD at 817-341-5000.