Frisco ISD is submitting a MASSIVE 1.3 BILLION DOLLAR bond request to the voters in the May 10th Municipal election.
Everyone recognizes Frisco is a rapidly growing city and needs more schools. The question is whether FISD is placing too much risk on the taxpayers, are they being transparent and is money being diverted from the classrooms.
FISD has painted a “rosy” picture. What they aren’t talking about is the RISKS. These videos will expose the other side of the story so you may consider the RISKS before voting.
PRESS RELEASE: Voter Intimidation and Fraud Hotline Set Up In Response to Reports of FISD Employees Being Pressured to Vote Yes
FISD’s documentation revealed that many construction costs are substantially inflated – some by 25% or more. FISD will be able to spend those excess funds on projects the voters didn’t vote for in the bond proposition. To see an example of how FISD has diverted money from school construction
FISD is asking for $775 million. But with interest, the cost to taxpayers is a massive $1.3 BILLION….even more if interest rates continue to rise. You probably didn’t know that existing debt load of more than $3.0 Billion is already more than DOUBLE that. Moreover, none of the bond money will go to teachers or actual classroom education. A revealing picture of FISD’s debt profile is shown in this VIDEO
FISD’s proudly boasts that it’s tax rate is $.42 per $100 of property value. It would be better titled the “published” tax rate because the “REAL” tax rate is nearly $.10 higher 24% higher! FISD maintains this perception of low tax rates by using legal loopholes that hide the true facts. And the future doesn’t look any brighter! A surprising look at the tax rate situation that FISD hasn’t disclosed can be seen in this VIDEO
Responsible Spending Coalition has crafted a transparent, fiscally responsible plan to dramatically reduce risk to the taxpayers of Frisco. By scaling back the massive $775 million to about $400 million it will keep the school program on track to the 2018/19 school year. See how this plan takes a more fiscally responsible two-part approach over the massive bond expense FISD has proposed
FISD has chosen to present a minimalist view of the impact on property taxes by understating the impact on new the majority of new-comers to Frisco and totally ignoring the compounding impact on property taxes that inflation has on assessed valuations. See a realistic view of tax increases in this VIDEO