Debt InformationTexas school districts' debt take the form of bonds. School districts use bonds to pay for big ticket items such as facilities due to increased student enrollment, repairs/renovation of aging buildings, and/or evolving needs due to changing expectations . A bond is a debt investment in which an investor loans money to a school district, with interest, for a defined period of time. The repayment of the bonds are usually structured to match the life of the asset financed.School districts are required by law to ask their local voters for permission to sell bonds. A school board calls a bond election, and voters decide whether or not they want to issue bonds (debt) for the identified needs. If the voters approve the bond election, the school district then may raise the I&S tax rate to repay the debt to the investors.Questions pertaining to the information in this reports should be directed to Mike Seale, Chief Financial Officer.