We have predicted several times that EPISD will have to raise their interest and sinking fund tax rate next year in order to pay for the bonds that the voters approved.
When the voters approved the “penny swap” in the last election they took ten cents per hundred off of the interest and sinking fund tax rate and switched it to the operations and maintenance tax rate.
That moved the operations and maintenance rate to the highest allowed by the state. They cannot increase it without the state legislature changing the law. That maximum is $1.17 per hundred dollars of valuation.
It also shrank the amount collected for bond repayment below the amount needed with our current debt. We wrote about this in EPISD–will they get caught?
On the March 7, 2019 special board meeting agenda item 1.c was listed as “2019-2020 Debt Service Fund Projections“.
We’ve been waiting for this so we clicked on the link for the backup material that would explain what they are thinking of doing.
This is what we got:
They don’t want us to know, especially before the May elections.
We deserve better