Frequently Asked Questions

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.

Bond funds can be used to pay for new buildings, additions and renovations to existing facilities, land acquisition, technology infrastructure and equipment for new or existing buildings. Bonds cannot be used for salaries or operating costs such as utility bills, supplies, building maintenance, fuel and insurance.

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 such as building a new school. Essentially, the voters are giving permission for the district to take out a loan and pay that loan back over an extended period of time, much like a family takes out a mortgage loan for their home. A school board calls a bond election so voters can decide whether they want to pay for proposed projects.

The 2023 bond proposal asks voters to consider giving CFBISD authorization to issue bonds to fund capital improvement projects at existing schools, safety and security, technology, and build replacement schools. Projects in the 2023 proposal continue the district’s long-term “Grand Vision” plan for high schools and middle schools and to replace elementary schools when it becomes more cost efficient to build new.

Development of the bond proposal was an in-depth process of information gathering, research and community input. A Citizen’s Bond Planning Committee met nine times over a six-month period and toured district facilities before making a recommendation to the Board of Trustees. During their meetings, the citizen’s committee studied facility conditions, work that was completed in the 2018 bond program, financial data, and results of a community survey. Following the committee’s recommendation, the Board voted unanimously to call for a May 2023 bond election.

Nearly all the projects from the 2018 bond are complete. The district’s newest campus, a replacement school for Sheffield Elementary, opened in January 2023. View the Promises Made, Promises Kept page for more information.

CFBISD will schedule projects over the next several years and will communicate timelines to the community throughout the life of the bond projects.

Anyone who is a registered voter and resides in the CFBISD boundaries is eligible to vote in the May 2023 bond election. Check your voter registration status at VoteTexas.gov.

The total bond amount for all projects is $716,440,000.

Based on growth of Taxable Assessed Values, CFBISD will be able to issue the $716.4 million worth of bonds without a change to the I&S tax rate. Based on current assumptions and current laws, the district will be able to pay the debt service at the current 20-cent Interest & Sinking tax rate. Read more on the Tax Information page.

No. There is no relationship between the tax rate and the assessed value of homes. The school district is not involved in assessing home values or home appraisals.

Residents 65 and over are eligible for an “over 65” exemption. If you have applied for and received the age 65 and older exemption on your homestead, by law, your school taxes cannot be raised above their frozen level. The amount of taxes you pay is determined by the tax amount at the time your taxes were frozen. 

The Comptroller website has a list of Frequently Asked Questions.

Yes, we have experienced inflation with our 2018 bond projects and have been monitoring construction projects and costs in other school districts. During the Citizen’s Bond Planning Committee, we heard from a panel of industry experts and discussed strategies to be proactive to receive the best costs possible in the current climate. We have planned for inflation by including funds for escalation and contingency in our bond project budgets.