Bonds are voter-approved initiatives that generate additional tax revenue for local taxing districts. Bonds can be used for:
- Acquisition, purchase or improvement to one or more school buildings.
- To build new schools and other facilities.
- To remove and demolish old school facilities.
- To repair and re-model existing facilities.
- For furnishing and equipping of buildings including lighting, heating, cooling, and ventilation (HVAC)
Any entity submitting bonds must provide a statement of intended use on the ballot. Statements must also include the anticipated interest rate on the proposed bonds, the total amount to be repaid over the life of the bonds, the length of time in which the bonds will be paid off, and the total existing indebtedness of the taxing district.