Following up on our post the other day, we wrote in False Promise that EPISD is going to ask us to authorize taking 10 cents per hundred out of their interest and sinking fund property tax rate and adding it to their maintenance and operations rate (currently at $1.07 per hundred).
Until the issue is voted upon the district is required to publish a budget for next year. This slide came from their web site:
It shows that they currently plan to spend $47,070,011 on debt service.
That’s if we don’t allow them to change the current 24 cent interest and sinking fund tax rate to 14 cents.
Then they won’t have enough money to service our debts.
In fact this April 2017 presentation to the citizen’s bond advisory committee projects that they will need a tax rate of 31 cents for 2018-2019.
They are simply robbing Peter to rob Paul.
They want us to approve the tax rate swap knowing that they will have to raise the interest and sinking fund rate next year.
We deserve better