Bloomington I.S.D. proposes issuing $1.1 million bond, without a tax increase
Early voting begins on Oct. 18
VICTORIA, Texas – Superintendent Mark Anglin plans for Bloomington I.S.D. to address mandatory necessities with a $1.1 million dollar bond.
Earlier this year, a 14-people-committee determined the school district should invest in the following top needs:
- Campus security cameras
- Cyber security
- Life skills additions
- C.T.E. transportation
- General maintenance
- Welding shop and agricultural farm renovations
Anglin says this bond investment will pay off in the long run
“Now the great thing about this bond is that there’s no tax increase. That money is already in our I&S fund balance, which is our interest and sinking fund balance. So the money is there, but it can only be used to either pay off a bond or fund another bond,” Anglin said.
According to Anglin, the district currently has $1.6 million dollars in its interest and sinking fund account. The district can only use these funds to pay off a bond.
“So we’re gonna go out and get another bond for 1.1 million. We have 1.6 million in there that will still leave us five hundred thousand. We get that bond. No tax increase for our community at all and then we will be able to pay that off in three years. It will be paid out of our I&S fund balance,” Anglin explained.
The community can begin voting early for this bond, starting on Oct. 18 until Oct. 29. Election day will take place on Nov. 2.
Anglin aims high for the district to pay off the bond in two years
“We are going to be, our goal is within three years to be an A-B rated school. Really within two, it may take us three, but we’re going to get there,” Superintendent Anglin assured.
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