The money that YISD announced the other day was authorized by section 46.031 of Chapter 46 of Title 2 of the Texas Education Code.
From what we can understand the money will not come in the form of a one time payment (as was implied by the superintendent and board president in their TV interviews) but instead will be made available every year to help pay interest and principal payments.
The law has been around for some time.
We wonder if the local school districts were aware of this funding when they proposed their bond issues. It seems to us that local voters would have been more inclined to vote yes if they knew that the state would be picking up almost half of the bill.
EPISD has been silent about this.
Have then been blindsided by this? Is it possible that they did not know?
We should ask the EPISD board for clarification.
We deserve better