It’s official. Austin Independent School District’s $1 billion bond has the seal of approval of Austin voters.
The bond will go towards schools in the worst conditions first and will modernize or construct 16 new campus facilities, according to district officials.
However, some schools will be turned into replacement schools. Eastside Memorial High School is expected to move to a location on Thompson Street.
Without the bond, AISD officials feared that more money would have to be used to address facility needs for aging schools and that more money would be “going to the state,” AISD Trustee Jayme Mathias told KVUE in an interview.
District officials said the bond, which was mulled over for two years and totals $1,050,984,000, will be achieved without raising the tax base in Austin. Officials said they will use a "borrow and repay as you go" [sic] financial model, which they compared to a credit card. They added that not all of the money will be pulled out right away and any unused money will go towards schools with overcrowding issues.
But even with AISD’s proposed plans for the money, some groups don’t feel the money will be spread fairly throughout every neighborhood.
“Save East Austin Schools," a group composed of parents and school volunteers, said they fear their schools will close down soon to help bring down bond costs.
See the full break down of how the money will be spent, here.