may 2012 bond election

I.W. Evans Intermediate School Additions and Renovations

May 2012 Bond Election

On March 2, the Bonham ISD Board of Trustees called a $7,000,000 bond election for May 12, 2012 to address I.W. Evans Intermediate School. The proposed bond to improve conditions at I.W. Evans Intermediate school passed on Saturday, May 12, 2012 with 60% approval.

 

The May 2012 bond will address aging and inadequate facilities at I.W. Evans Intermediate including:

• Campus overcrowding

• Undersized classrooms (based on state requirements)

• Handicap accessibility, roof and building code deficiencies

• Mechanical, electrical and plumbing deficiencies

• Traffic congestion

Frequently Asked Questions

GENERAL BOND INFORMATION

What is a bond?

A bond is similar to a home mortgage. It is a contract to repay borrowed money with a low-cost interest rate over time. Bonds are sold by a school district to competing lenders to raise funds to pay for the costs of construction, renovations and equipment. Most school districts in Texas utilize bonds to finance renovations and new facilities.

 

How can bond funds be used?

Bond funds can be used to pay for new buildings, additions and renovations to existing facilities, land acquisition, technology infrastructure and equipment for new or existing buildings and large ticket items such as school buses. Bonds cannot be used for salaries or operating costs such as utility bills, supplies, building maintenance, fuel and insurance.

 

What is a bond election?

School districts are required by state law to ask voters for permission to sell bonds to investors in order to raise the capital dollars required to renovate existing buildings or build a new school. Essentially, it’s permission to take out a loan to build and renovate and pay that loan back over an extended period of time, much like a family takes out a mortgage loan for their home. A school board calls a bond election so that voters can decide whether or not they want to pay for proposed facility projects.

 

How much did the District ask for?

The Board of Trustees called a bond election in the amount of $7,000,000 to be brought before voters on May 12, 2012 for additions and renovations to I.W. Evans Intermediate.

 

What does the bond address?

The proposed bond will address aging and inadequate facilities at I.W. Evans Intermediate including campus overcrowding, undersized classrooms (based on state requirements), traffic congestion, and mechanical, electrical, plumbing, handicap accessibility, roof and building code deficiencies.

 

 

BOND PROJECT INFORMATION

Why is the district proposing to move the main office to the front entrance?

The main office will be relocated to the front entrance to provide a secure entrance, requiring all visitors to enter into the reception area before being allowed through locked doors into the rest of the school. Today, any visitor can have access to the entire school.

 

Will school remain open while construction is in progress?

Yes. Construction will be completed in phases so that school can remain in session throughout the entire project. The summer months will be used for major construction projects in order to minimize the construction disturbance while school is in session.

 

Why is the district proposing to renovate the intermediate school instead of building a new facility? Is it cheaper to build new?

Renovating and adding on to the current building is the most cost-effective solution. The cost to renovate and add onto the current I.W. Evans Intermediate School is $7.66 million. In order to build a new intermediate school with the same square footage, it would cost approximately $14.5 million.

 

On the inside, I.W. Evans will look like a new school after the renovation work is complete, and the building's lifecycle will be increased by another 40-50 years. The renovations include upgrading mechanical, electrical and plumbing systems, addressing handicap accessibility and building code deficiencies, and replacing finishes throughout (flooring, paint, tile, etc.). In addition, the building will receive new windows and a new roof.

 

 

TAX INFORMATION

How is the district’s tax rate configured?

A school district’s tax rate is comprised of two tax rates: the Maintenance & Operations tax (M&O) and the Interest & Sinking tax (I&S). The M&O tax is used to operate the school district, including salaries, utilities, furniture, supplies, food, gas, etc. The I&S tax is used to pay off school construction bonds. Bond sales only affect the I&S tax rate.

 

If I am over 65 years old or disabled, will my taxes go up?

No. If you have applied for and received the Age 65 or Disabled Freeze on your homestead, your school taxes will not be raised about their frozen level as long as you do not make improvements to your property.

Resources

May 2012 Bond Election Quick Facts

I.W. Evans Intermediate School Facility Assessment

Bonham ISD  |  Huckabee