Responsible Spending Coalition of Texas is FOR building more schools, they are emphatic about that. They are equally emphatic that voters should never give Frisco ISD open-ended authority to spend three quarters of a billion dollars over nearly a decade as with the 2006 bonds.
Responsible Spending Coalition of Texas (RSCT), a new group has become the main organization opposing that $775 million bond request. RSCT has done extensive research based on Public Information Requests (PIR), SEC filings and other publically available documents and then analyzed the “gaps” between FISD’s public pronouncements and the information that voters should know before voting on this massive bond request. RSCT has compiled public policy positions on seven critical “gaps
and their risks to taxpayers and future generations.
- Risks from inflated construction cost projections and excess funding
- Risks from accumulating approximately $4.4 Billion in debt service costs
- Risks to FISD’s ability to pay the annual debt service
- Risks from 20% Property Tax Rate increases
- Risks from balloon payments
- Risks of excess capacity from over-building
- Risks to taxpayers from lack of transparency
- RISK MITIGATION PLAN
Frisco is still growing and we really do need more schools. However, Texas is second only to California in total debt and second only to New York in per capita debt. We don’t want to put an excessive tax burden on our children and future generations.
For more information or comments, contact us at ResponsibleSpendingCoalition@gmail.com
Additional Resources on FISD’s $775 Bond Request