The total amount of all propositions in the 2026 bond proposal is $81,525,000.
If approved by voters, the district would issue bonds to fund the authorized projects and repay the debt over time, similar to how a mortgage is structured. Bonds carry an interest rate and follow an amortization schedule, meaning each payment includes both principal (the amount borrowed) and interest (the cost of borrowing). The exact interest rate and repayment schedule are determined at the time the bonds are issued, based on market conditions and the district’s financial plan.
Because of this structure, the total amount paid over the life of a bond is greater than the principal amount borrowed. For example, a homeowner who finances a $500,000 home with a 30-year mortgage at 6.25% interest would pay approximately $1.1 million over the life of the loan, including principal and interest.
School bonds function in a similar manner. While the exact repayment amount for the 2026 bond will not be known until bonds are sold and interest rates are set, long-term bonds are commonly structured over 30-40 years, and like all debt, the final amount paid will be higher than the original amount borrowed. It’s important to remember, however, that FISD has a history of utilizing advantageous refinancing options known as refundings and financial strategies.
Actual repayment amounts may vary depending on:
- Interest rates at the time of issuance
- The final amortization schedule
- Portions of the bond (such as buses or technology) are issued on shorter terms
- Future bond refundings or refinancings
School districts may refinance bonds with a refunding issuance, similar to refinancing a mortgage, to take advantage of lower interest rates and reduce total interest costs. FISD has refunded outstanding debt and saved approximately $16 million in interest from the 2007 bond.
If the 2026 bond proposal is approved, the district’s Debt Transparency Report will be updated to include the new authorized debt, reflect any refundings, and updated repayment schedules.
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Comparison for Illustration Purposes Only
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Home Mortgage
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School Bond
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Purchase Price: $500,000
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Bond Amount: $81,525,000
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Assumed Interest Rate
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6.25%
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4.50%
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Assumed Term
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30 years
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32 years
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Total Amount Paid
(principal + interest)
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Approx. $1,100,000
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Approx. $161,000,000
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Factors that could change the total amount paid
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Interest rate, length of loan, refinancing
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Interest rate, length of loan, portion of bond dollars issued on shorter term (technology, buses, etc.), refundings
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Figures shown are estimates for illustration only. Actual interest rates and repayment amounts will be determined at the time bonds are issued.