The $850 million bond will appear on voter ballots as three propositions, which will be voted on separately in accordance with state requirements, SISD Chief Financial Officer Ann Westbrooks said during the Aug. 9 meeting.
Proposition A would allocate $681 million to fund campus improvements such as renovations to Spring and Westfield high schools, and Reynolds and Jenkins elementary schools, according to an Aug. 9 presentation from the bond steering committee.
Additionally, Proposition B would allocate $141 million to build a new education and performing arts center, while Proposition C would allocate $28 million to fund technology upgrades districtwide.
If all three propositions are approved by voters in November, the bond would raise the district’s interest and sinking tax rate by approximately $0.05, Westbrooks said. Though she noted that increase may be offset if trustees approve a maintenance and operations tax rate that is $0.05 lower later this year. The district’s proposed I&S tax rate is $0.40, but trustees have yet to approve the final rate for the 2023 fiscal year.
Voters approved SISD’s last bond in 2016 with a total budget of $330 million and a working budget of $339.8 million, according to the June 23 board of trustees meeting minutes. The bond I&S tax rate was $0.50.
The 50-member bond steering committee met six times over the summer, with the final meeting held on Aug. 2. Attendees of the invite-only meetings included school board members, community members, district leaders, parents and students.
For more information on SISD's 2022 bond, click here.