Richardson ISD will move forward with a May 2021 bond election with a $750 million bond package.
The RISD board of trustees approved a recommendation to call the bond election at its Feb. 8 meeting.
The bond includes two propositions. Proposition A of the bond totals $694 million for buildings, buses and safety.
Around $286 million of this proposition is for infrastructure and safety upgrades at every RISD campus. About $269 million will go towards the middle school transformation — which will rebuild LHJH and renovate FMJH — along with other additions for growth and renovations for student safety and facility conditions. Around $139 million of Proposition A will towards teaching and student support.
Proposition B will total $56 million to refresh technology devices for teachers, students and staff.
The two propositions would not increase RISD’s tax rate, but due to a new ballot language requirement by the state, all municipal bond propositions in Texas must include “This is a property tax increase.”
RISD will issue a Voter Information Document which explains how property taxes on a $100,000 home could be affected based on growth in assessed values used to calculate bond capacity.
“When the legislature put this requirement in this year in House Bill 3, they were trying to address two issues with the communication of bond taxing implications,” said RISD Chief Financial Officer David Pate at the Feb. 8 meeting. “As values increase, even if a property tax rate remains constant, tax bills rise. In absence of this debt, so assuming a municipality did not issue the new debt, then tax bills would decrease over time because the liability would go away.”
A breakdown of proposed Bond 2021 projects and more information can be found at www.risd.org/bond2021.
Election Day will be May 1.
Also at the Feb. 8 meeting, RISD board authorized a general election to fill the seats of trustees who’s terms will expire in May.
The district will contract with Dallas County Elections once more to conduct the election on May 1.
“Obviously throughout the course of the next many months, we will be celebrating and expressing our gratitude to Kim Caston and Jean Bono,” said RISD Superintendent Jeannie Stone at the meeting.