Estimated Time to Read: 10 minutes
As Texas voters head to the polls for the November General Election, many ballots across the state include a range of bond proposals, some totaling billions of dollars in debt obligations. This post provides a summary of the most significant and costly proposals up for consideration by Texas voters.
Disclaimer
Unfortunately, the Texas State Comptroller’s office has discontinued the publication of its Bond Election Roundup, making this a much larger project than initially expected. While we’ve done our best to include key information, some bond propositions may have been unintentionally omitted.
Additionally, several special purpose districts across the state have proposed bonds, which are too numerous to list here. As always, we encourage Texans to research their own ballots in advance.
Houston Independent School District
One of the most significant bond packages under consideration is from Houston ISD, which is proposing a $4.4 billion bond package. If approved, it would be the largest in Texas history. It is worth noting that Houston ISD currently has a combined debt obligation of over $2.4 billion already.
- Proposition A: $3.96 billion (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $8.4 billion)
- New school buildings and the renovation and expansion of existing school buildings including safety and security infrastructure for such school buildings, and the purchase of necessary sites for school buildings
- Proposition B: $440 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $529.4 million)
- Technology equipment and systems
- Technology infrastructure
- Instruction technology
References: Houston ISD Bond Election Order & Houston ISD Voter Information Document (VID)
Other Notable School District Bond Propositions
Several other school districts have proposed significant bonds as well.
Round Rock ISD
Round Rock ISD, located in central Texas, has a bond package that totals nearly $1 billion ($998 million), which if passed would be the largest in the district’s history, despite a trend of enrollment declines. Round Rock ISD has a combined debt obligation of over $838.2 million already.
- Proposition A: $798.3 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $1.3 billion)
- Campus Repairs, Improvements, and Upgrades
- Proposition B: $125.3 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $160.2 million)
- Instruction Technology Upgrades
- Proposition C: $8.6 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $13.7 million)
- Fine Arts Programs Improvements and Upgrades
- Proposition D: $65.9 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $104.6 million)
- Existing athletic facility improvements and upgrades
- Construction of new standalone multipurpose athletic facility
References: Round Rock ISD Bond Election Order & Voter Information Document (VID)
Frisco ISD
Frisco ISD, located north of Dallas, has a bond package that totals nearly $1 billion ($998 million), which if passed would be the largest in the district’s history, despite a trend of enrollment declines. Frisco ISD already has a combined debt obligation of over $3.3 billion.
- Proposition A: A VATRE (Voter-Approval Tax Ratification Election)
- Tax increase to cover debt payments
- Proposition B: $986 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $1.9 billion)
- Repair and improvement to 20 existing campuses
- Constructing a new middle school
- Upgrading equipment for schools
- Purchasing new school buses, work trucks, a fueling station and truck wash
- Upgrading safety and security at various campuses
- Proposition C: $88.2 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $170.8 million)
- Technology upgrades
- Proposition D: $11.2 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $21.7 million)
- Construction of new tennis center
References: Frisco ISD Bond Election Order & Voter Information Document (VID)
Rockwall ISD
Rockwall ISD, located northeast of Dallas, has a bond package that totals $848.7 million. Rockwall ISD already has a combined debt obligation of over $1.65 billion.
- Proposition A: A VATRE (Voter-Approval Tax Ratification Election)
- Tax increase to increase teacher and staff compensation as well as hire additional teachers
- Proposition B: $787.1 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $1.4 billion)
- Construction of two new elementary schools
- Repair and improvement of two high schools, as well as a middle school, and expansion of spaces at the College and Career Academy for culinary arts, cosmetology, Marine Corps JROTC, and construction of a new Agricultural Sciences Center.
- Proposition C: $18.7 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $20.1 million)
- Instruction Technology
- Proposition D: $42.9 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $78.4 million)
- Expansion & renovation of existing stadium
References: Rockwall ISD Bond Election Order & Voter Information Document (VID)
Top City Bond Proposals
Several municipalities are proposing bond packages across the state as well. The following are the most notable ones:
City of El Paso
The city of El Paso is holding a special election to revoke its authority to issue bonds already approved by El Paso voters in a 2012 election amounting to $128 million for a Multipurpose Performing Arts and Entertainment Facility.
City of Lubbock
The City of Lubbock is proposing $103.4 million in bonds to improve existing city streets. Lubbock voters will consider Proposition A. The estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized would amount to $165 million. The City of Lubbock already has an estimated $362.1 million combined debt obligation.
References: City of Lubbock Bond Election Order & Voter Information Document (VID)
City of Corpus Christi
The City of Corpus Christi is proposing a combined $175 million bond package. The City of Corpus Christi already has an estimated $747.6 million combined debt obligation.
- Proposition A: $89.5 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $145.6 million)
- Repair and improvement to existing streets
- Construction of new drainage improvements
- Construction of a new parking lot under an existing bridge
- Connection of missing portions of pedestrian-safe pathways
- Proposition B: $37.65 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $61.2 million)
- Construction of new Gold Center Clubhouse
- Upgrades to Aquatic Center
- Expansion of existing park to include one baseball and softball field as well as a parking lot
- Construction of a helicopter pad at existing park and upgrades to various parks and amenities
- Additional funding for baseball complex renovations from previous bond election
- Proposition C: $45 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $73.2 million)
- Construction of new police substations
- Design of a new fire station and another police substation
- Construction of new fire stations as well as demolition of existing fire stations
- Proposition D: $2.85 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $4.6 million)
- Design and construction of building improvements to various cultural facilities
- Design for a new library and senior and community center complex
References: City of Corpus Christi Bond Election Order & Voter Information Document (VID)
Top County Bond Proposal
Several counties are proposing bond packages across the state as well. El Paso County likely has the most notable bond package:
El Paso County
The County of El Paso is proposing a combined $175 million bond package. The County of El Paso already has an estimated $285.7 million combined debt obligation.
- Proposition A: $95.6 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $175.8 million)
- Various County park improvements, expansions, and upgrades
- Proposition B: $26.7 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $49.1 million)
- Construction of a new medical examiner’s office
- Proposition C: $63.2 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $116.4 million)
- Construction of a new community services annex
- Expansion of an existing courthouse annex to include a commercial kitchen
- Construction of a new building to house various county officers
- Proposition D: $105 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $193.9 million)
- Improvements to the existing County Coliseum
- Proposition E: $32.7 million (Estimated combined principal and interest required to pay on time and in full the debt obligations to be authorized: $60.1 million)
- Construction of a new animal shelter
References: County of El Paso Bond Election Order & Voter Information Document (VID)
Bonds Equal Debt, Debt Equals Less Prosperity
As with any major financial decision, there is debate surrounding the merits of these bond proposals. Supporters argue that these investments are necessary to meet the demands of a rapidly growing state and that they will improve the quality of life for all Texans. They point out that bond measures are a way for communities to make long-term investments in critical infrastructure without having to raise taxes immediately.
Opponents, however, caution that bond measures represent borrowing that taxpayers will eventually have to repay, often with interest. They argue that local governments should prioritize spending within existing budgets and that relying too heavily on bonds can lead to financial instability in the future. Some critics also express concern that bond-funded projects can lead to higher property taxes as local governments look for ways to pay off the debt.
Notably, of the three major political parties in Texas, two of them explicitly address the idea of bonds and bond elections.
The 2024 Republican Party of Texas Platform includes the following plank related to bonded debt:
218. Bonds Create Bondage: State and local bond election ballots shall be required to include the ammount of debt currently outstanding, current debt service payments, current cper capita debt obligations, the amount of new debt being proposed, estimated debt service for the new debt, and estimate per capita birden being proposed. The bond issue must obtain a two-thirds (2/3) affirmative vote of at least 20% of registered voters in the voting jurisdiction. No public funds are to be spent influencing a bond election. We oppose bundling of items on bond election ballots and “rolling polling” for bond and tax rate increase elections. Any bond election, at any level of government in Texas, must state on the ballot, “This is a tax increase,” in bold print.
The 2024 Libertarian Party of Texas Platform included the following relating to bonds:
II.1.e Government Debt: LPTexas supports a moratorium on bond issuance, Certificates of Obligation, and all other forms of government borrowing. Additionally, government-owned assets should be liquidated for the repayment of outstanding debt.
Conclusion
The November 2024 election is a pivotal moment for Texas, not only because it coincides with the Presidential election and several other key races, but also due to the billions in proposed bonded debt up for consideration. The outcomes of these bond proposals could further contribute to the already concerning local debt burden on taxpayers across the state. As Texas continues to grow, so will the need for expanded services and infrastructure. Voters must carefully balance the potential benefits of these investments against the long-term financial commitments they represent.
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