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 or not they want to pay for proposed projects.

The 2021 bond proposal asks voters to consider giving GISD authorization to issue bonds to fund a new middle school.

The most recent bond election, May 2020, was canceled due to COVID-19 and the governor’s recommendation to cancel elections.  Prior to that, Gainesville ISD’s last bond election was in 2005, which funded Gainesville High School.