Frequently Asked Questions
What is a School Bond?
School districts are required by state law to ask voters for permission to sell bonds to investors to raise capital for large projects and purchases such as new construction, renovations, or transportation (buses and vehicles). Essentially, it’s a loan, paid back with the I&S tax rate over a period, much like a family takes out a mortgage for their home.
Can Bond Dollars be Used for Salaries?
No, the I&S tax rate, by law cannot be used for salaries or ongoing operating expenses. Salaries, utilities, student learning supplies and other ongoing operating expenses are paid for by the M&O tax rate. The state dictates the M&O tax rate and the amount of money the school district receives from that rate.
If the State determines the M&O Tax Rate, do they have a say in the I&S Rate?
No, the only input the State has on our I&S Tax Rate is that we cannot pass or sell bonds that would require the Board of Trustees to set an I&S Rate of more than $0.50. Outside of that, I&S tax dollars stay within the District.
How will this Bond impact me if I am over 65?
If you are over 65 and have applied for the available tax freeze, this bond will not impact your homestead taxes. For more information or to make sure your freeze is in place, please reach out to the Hopkins County CAD.
Where does the ballot language come from?
Ballot language is written in general terms to cover a multitude of district scenarios. However, it is our goal and priority to build a gym and CTE facility.