CONROE ISD BOND - NOV 2019 - More Improvement Needed
Texas Patriots PAC recommended a NO Vote on the May 2019 Bond which voters did defeat. Over the summer, Texas Patriots PAC made suggestions to Conroe ISD on putting together a better bond for taxpayers. CISD did implement a maintenance fund using Maintenance & Operations (M&O) dollars so that maintenance items would not be included in future bonds. Previously, CISD paid down debt by transferring money from M&O funds as permitted by law. HB3 will no longer allow transfer of funds from M&O to Debt Service funds. As a result, larger bonds will create even larger debt due to the length of time it will take to pay off the bond. Interest payments are tremendous with large bonds. INTEREST BUYS NOTHING. In this case it buys $540 MILLION dollars of nothing. It is very important for ISD’s to pare down bonds to include what is truly needed, to maximize current assets in the district, and to achieve competitive pricing on school buildings and other items which may be included in a future bond. Texas Patriots PAC greatly appreciates the timely response to our questions of CISD by Dr. Null and CFO Darrin Rice. We are getting closer to a better bond and will hope to support a smaller bond next May.