School districts primarily use bond funds for large-scale capital improvement projects because money to do so is not included in districts’ annual budgets.
Districts receive funding from state, federal and local sources, with the primary local funding source coming from property taxes. A school district’s tax rate consists of two parts, with the larger part funding the district’s maintenance and operations and the smaller part paying interest the district accrues from bonds. Revenue from property taxes does not pay for construction projects.
Comal ISD’s latest bond was passed in 2017 and will fund two new high schools opening in 2020 and 2021. A 2015 bond package funded two new middle school campuses that opened in August.
Districts that are experiencing rapid growth may need to hold bond elections more often to build enough facilities to keep pace with growing student enrollments.