WHAT IS A BOND?

A bond is similar to a home mortgage. It is a contract to repay borrowed money with interest over time. Bonds are sold by a school district to competing lenders to raise funds to pay for the costs of construction, renovations and equipment. Most school districts in Texas utilize bonds to finance renovations and new facilities.

HOW CAN BOND FUNDS BE USED?

Bond funds can be used to pay for new construction, renovations to existing facilities, land acquisition, and technology infrastructure. Bonds cannot be used for day-to-day operating costs, such as salaries, utility bills, supplies, maintenance and fuel.

WHAT IS A BOND ELECTION?

School districts are required by state law to ask voters for permission to sell bonds to investors in order to raise the capital dollars required for projects.

HOW WAS THE BOND PACKAGE DEVELOPED?

The bond package was developed by community input and prioritization by the Facility Planning Committee.

WHERE CAN I FIND EXACTLY WHAT IS PROPOSED IN THE BOND PACKAGE?

Visit the Bond Proposal page to see a breakdown of each proposition and detailed project descriptions.

WHAT MEASURES ARE IN PLACE TO ENSURE ACCOUNTABILITY AND TRANSPARENCY IN THE IMPLEMENTATION OF PROJECTS FUNDED BY THE BOND?

If the bond is approved by voters, the district is committed to the specified projects being presented to our community. In order to ensure transparency and accountability in the implementation of projects funded by the bond, the district will form a Bond Oversight Committee to meet continuously throughout the design and construction process.

WHAT’S THE PLAN FOR A NEW JUNIOR HIGH?

If the bond is approved by voters on May 4th, a new Junior High School is one of the top priorities. McGregor ISD and the City of McGregor are discussing a potential land swap which would give the city control of the current properties surrounding the HG Isbill building, including the gym, locker room, and Wood Field. In exchange, McGregor ISD would receive the A100 Building (C3 Building) and surrounding land. The A100 Building would undergo a comprehensive renovation, resulting in a completely transformed appearance while retaining its structurally sound original framework, to house educational support areas such as cafeteria, food service, administrative offices, and potentially some general academic spaces. Architects have assessed the building and found it to be structurally sound. The building has had significant improvements and renovations made over the past ten years but has been vacant for the past two years. The interior will be redesigned to allow for appropriate class sizes. McGregor ISD seeks to keep the significance and history of the building and roots in McGregor alive through the design of the new school. The adjacent land will be used for future expansion of facilities as needed and has enough space to design ease of movement with traffic flow to keep parents and students safe.

WHAT IS MCGREGOR ISD’S CURRENT TAX RATE?

McGregor ISD’s current Maintenance & Operations (M&O) tax rate is $0.6692 and its Interest & Sinking (I&S) tax rate is $0.2059 for a total tax rate of $0.8751.

HOW WILL THE 2024 BOND PACKAGE AFFECT MY TAXES?

If approved, the maximum estimated tax impact would be an additional 28.4 cents to the current McGregor ISD tax rate. A monthly tax impact calculator can be found here.

WHAT IF I’M OVER 65 AND RECEIVE THE “SENIOR CITIZEN EXEMPTION” AND MY HOME VALUE GOES UP? WILL MY SCHOOL TAXES INCREASE?

No, according to state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older cannot be increased above the amount paid in the first year after the person turned 65 – regardless of changes in tax rate or property value – unless significant improvements are made to the home. Normal repairs, maintenance and the economic impact of the market cannot increase the amount of taxes you will pay once a tax ceiling is in place on that homestead.

WHAT WILL THE INTEREST RATE BE?

The interest rate is not finalized until bonds are sold, which takes place after the passage of a bond election.

School districts are able to borrow money at lower, tax-exempt interest rates meaning that the interest earned by the investor is not subject to Federal income taxes.

Texas school district bonds also qualify for the State Permanent School Fund Guarantee (“PSF”). The PSF allows for the bonds to receive a ‘AAA’ rating which is the highest credit rating.

These two factors will allow MISD bonds to be priced at the lowest available interest rates at the time of issuance.

WHO IS ELIGIBLE TO VOTE IN THIS ELECTION?

Any registered voter who lives within the McGregor ISD boundaries — and whose voter registration is based on their current McGregor ISD residence — is eligible to vote in this bond election.

HOW CAN I DETERMINE IF I’M ELIGIBLE TO VOTE?

You can check your voter registration status here. All you need is a few things: Voter ID number or Texas Driver’s License number, your name, county of residence, and date of birth.

WHEN IS THE DEADLINE TO REGISTER VOTE IN THIS ELECTION?

The last day to apply for voter registration is April 4 in order to vote in the May 4 election.

HOW CAN I CHECK TO SEE IF I AM REGISTERED?

Visit this website to check your registration status.

HOW DO I REGISTER?

You can fill out a registration application online, but an original application with signature must still be mailed to your local county voter registrar.

You can also call the statewide Voter Registration Office at 210-335-VOTE (8683) and request a voter registration application. You may also find voter registration applications at libraries, government offices, high schools, or with volunteer deputies.

I JUST MOVED. DO I NEED TO RE-REGISTER?

If you moved to a different county, yes. If you moved to a different address within the same county, no. All you have to do is update your address online. You can also get a new voter registration application, make note of your new address, and mail it to the Voter Registration Office.

WHEN DOES EARLY VOTING BEGIN?

Early voting starts April 22 and runs through April 30.

WHEN IS ELECTION DAY?

Election Day is May 4. Polls will be open 7 a.m. to 7 p.m.