BOND 2023 Q&A:
You can find answers to questions commonly related to the November 2023 Bond Proposal. If you have any additional questions relating to the proposal or its details, please email 2023bond@greenvilleisd.com.
2023 Bond FAQ’s
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Other than using cash, a bond election is the only way Texas law allows school districts to fund additions, renovations, and new facilities. School districts borrow money in the form of bonds to finance these projects from design through construction. This is similar to homeowners borrowing money in the form of a mortgage to finance a home.
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GISD consistently receives top marks for fiscal responsibility, including a Superior Achievement in the Financial Integrity Rating System of Texas (FIRST) and a AAA bond rating from Standard & Poor’s (the highest available). However, salaries and benefits make up the majority of the district’s Maintenance and Operations (M&O) budget, leaving very little to put toward capital projects.
Additionally, as property taxes rise, the state reduces—or compresses—the amount of M&O funding GISD receives. But the district can utilize every bond dollar generated through Interest and Sinking funds (I&S).
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Following a recommendation from the district's Community Advisory Committee as well as the Town Hall sessions held to develop the design of the proposed campuses, the Greenville ISD Board of Trustees unanimously called a bond election.
If approved, a $189 Million proposition would fund a new Greenville Middle School, a new L.P. Waters Early Childhood, and renovation of the current High School which includes, updated furniture, finishes, lighting and code compliance, removal of lockers to recapture unused space for instruction, renovations of library.
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The time, effort and the priorities that the Community Advisory Committee as well as the Town Hall sessions attendees presented to the school board will be honored. By using these plans the construction calendar can be expedited. Here is what the GISD Board of Trustee is presenting to the voters of Greenville.
Proposition A — Greenville Middle School — $120 Million
• A building with a 1,400 student capacity that serves students in grades 6th-8th.
• Two-story classroom wings and a cafetorium.
• Ability to increase Career, Technology and Engineering programs beginning in Middle School.
• A track & field as well as tennis courts.
Projected Completion Date of January 2027
Proposition B — L.P. Waters Early Childhood Center — $36.4 Million
• A building with a 500 student capacity that serves early childhood students.
• Single-story classroom wings and a cafetorium.
• Storm Shelter
• Community Room
• Memorabilia room to honor L.P. Waters and Carver High School
Projected Completion Date of August 2026
Proposition C — Greenville High School Renovations — $32.6 Million
• Update furniture, finishes, lighting and code compliance.
• Removal of lockers to recapture unused space for instruction.
• Renovations of Library
Projected Completion Date of August 2025
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The new Greenville Middle School will be located on the acreage already owned by Greenville ISD that is located behind the current Lamar Elementary. This will also require the demolition of the old TXDOT building previously purchased by GISD.
The new L.P. Waters Early Childhood campus will be located adjacent to the current location where the baseball field is currently located.
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•L.P. Waters will be demolished. The current facility location will become a parking lot. The bleachers, hardwood floors and much of the brick will be reclaimed and utilized in the new facility.
• Greenville Middle School will be used for NHHS, GAEP, and will become the new location for the administration building.
• Wesley Martin Administration Building (current administration building) will be the technology hub for GISD
• The current New Horizons High School facility will be utilized for Head Start or Elementary Campus expansion.
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• Greenville ISD will hire a Project Manager to oversee the bond projects from start to finish.
• Greenville ISD will ask for letter of interest from the community to serve on an over-site committee to review projects, invoices and draws from the bond funds.
• Website will be developed similar to the Maintenance Tax Note website with projects, project timelines, allocation of funds, pictures of project progress, and invoices.
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The 2023 Bond will have a 0% Net Tax Impact. Greenville ISD will incur debt. Visit the link below to view the Proposed Amortization Schedule.
Tax Rate FAQ’s
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A school district’s tax rate is comprised of two components or “buckets”. The first bucket is the Maintenance and Operations budget (M&O), which funds daily costs and recurring or consumable expenditures such as teacher and staff salaries, supplies, insurance, software and utilities.
The second bucket is the Interest and Sinking budget (I&S), also known as Debt Service, and that is for longer-term capital improvements approved by voters through bond elections. I&S funds cannot, by law, be used to pay M&O expenses, which means that voter-approved bonds cannot be used to increase teacher salaries or pay rising costs for utilities and services.
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Before calling the bond election, the Greenville ISD Board of Trustees approved a reduction to the district’s tax rate for the fourth consecutive year. Greenville ISD's new tax rate of $.9692 will remain unchanged if the bond election passes. If approved, voters will authorize the district to sell $189 million worth of bonds to fund proposed projects.
Proposition A: Greenville Middle School - $120 Million – ZERO TAX INCREASE
Proposition B: L.P. Waters Early Childhood Center - $36.4 Million - ZERO TAX INCREASE
Proposition C: Greenville High School Renovations - $32.6 Million – ZERO TAX INCREASE
TOTAL OF ALL THREE PROPOSITIONS: $189M – ZERO TAX INCREASE
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A law passed in 2019 by the Texas Legislature requires that school districts include this language regardless of a bond election’s impact on the tax rate. Greenville ISD has the capacity to sell $189 million worth of bonds without a tax rate increase because the district is continuously paying off prior debt.
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Under state law, if you have applied for and received the Age 65 and Older Homestead Exemption, your school taxes CANNOT be raised above their frozen level unless you make significant improvements or additions to your home.
A significant improvement would be anything beyond normal maintenance or repair, such as building a swimming pool or adding a garage or game room.
To apply for the Age 65 and Older Homestead Exemption, contact the Hunt County Central Appraisal District at 903-454-3510.