What is a School Bond?
A school bond is a contract to repay borrowed money on a given date with interest paid semiannually. School districts issue bonds to fund capital projects, borrowing money from investors who purchase the bonds. Similar to a home mortgage, bonds are sold to competing lenders to raise funds to pay the costs of construction and equipping facilities. The bonds are repaid over a period of years. Voter approval is required to authorize the district to issue bonds.
What are bonds used for?
Bond funds can be used to pay for new buildings, additions and renovations to existing facilities, purchasing land, and furnishings and equipment for new or existing buildings. Bond funds CANNOT be used for personnel salaries or operating costs.
How are the Lytle ISD bond plans determined?
In Lytle, the board felt it was important to have parents, students, business owners, community members and staff all be a part of the decision making process. In 2009, stakeholders gathered as contributors to a Visioning and Facilities Committee. The committee met regularly over several months. They reported their findings and recommendationsto the board. The board considered the recommendation and called a bond election. The bond passed and the new Lytle Junior High was opened for the 2012-2013 school year.
A new Facilities Planning Committee (made up of community members, parents, students, staff and board members) was established in early 2012 to build on the groundwork of the original committee, The committee first decided that they wanted to provide learning spaces and instruction that are conducive to 21st century learning (as envisioned by the original committee and adopted by the board). The committee heard presentations from financial advisors and architects regarding the tax impact and design concepts. The committee reviewed several scenarios regarding possible renovations while taking into account the overall cost to the taxpayers for each of these concepts. The committee’s recommendation to the Board called for the redesign and complete renovation of the elementary campus and adding an updated gymnasium and library. The board unanimously called for an $8.6 million bond election for May 12, 2012. The Lytle Community passed the bond and construction began to renovate the existing elementary school.
What is included in this bond?
The existing elementary school was completely redesigned and renovated. The renovations also expanded capacity from approximately 500 students to 616 students. The construction also increased classroom sizes - which did not meet current TEA standards. A new gymnasium, library, and art/music rooms were included in this project.
Renovated Elementary School Opened in the Fall of 2014