The debt for a Texas school districts comes in the form of bonds voted on and approved by the citizens. School districts use these bond funds to pay for large projects such as expanded facilities due to increased student enrollment, repairs and renovations of aging infrastructure, and new needs due to changing environments and 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, usually 20 to 30 years. The repayment of the bonds are structured to match the life of the asset financed.
School districts are required by law to seek local voter permission to sell bonds. The school board calls a bond election, and the voters make their decision on whether or not they want to approve the issuance of bonds (debt) for the identified needs.
Debt Obligations Summary
Debt Obligations Summary as of 06/30/2018
Total outstanding debt obligations $512,622,858 Tax supported debt obligations $367,580,000 Tax supported debt obligations per capita $3,025 Net pension liability $36,245,657 Net OPEB liability $61,916,791 Premium on general obligation bonds $46,880,410 Sales tax rev. is not collected by Pearland ISD