Bonds are a way to borrow money for the construction of capital assets and infrastructure improvement projects.

Voter-approved, tax-supported debt is secured through property taxes dedicated to paying debt service.  A successful bond election authorizes the Board of Trustees to sell bonds as needed.  Bond costs are not incurred until they are sold.

Investors loan the money needed for a specific length of time, at the end of which the bond issuer (the borrower) pays back the loan with interest.  Issuers of conventional bonds pay periodic interest to the bondholders during the term of the bond. 

Bond costs are determined by the timing of repayment, the interest rate, the issuer’s credit rating, and bond market conditions. Ratings indicate fiscal health and are considered when school systems seek loans and refinance debt. Higher ratings could result in lower interest rates for loans. 

Moody's ratings reflect opinions of the relative credit risk.

• Aa - Obligations rated Aa are judged to be of high quality and are subject to very low credit risk.
• Aaa - Obligations rated Aaa are judged to be of the highest quality, with minimal risk.

District debt obligations are accounted for in the Capital Projects Fund.  This fund accounts for proceeds from the sale of bonds and other resources to be used for board-authorized acquisition, construction, or renovation, as well as, furnishings and equipping of major capital facilities. Upon completion of a project, any unused bond proceeds are transferred to the Debt Service Fund and are used to retire related bond principal.

Current restricted funds of $135,621,365, consist primarily of remaining bond issuance proceeds that are restricted for construction and other capital outlay expenditures.

The Debt Service Fund is a budgeted fund, which accounts for payment of principal and interest on long-term general obligation debt and other long-term debts to which a tax has been dedicated. Any unused debt service fund balances are transferred to the General Fund after all of the related debt obligations have been met.

Current restricted funds of $5,324,376, consist primarily of property tax collections that are restricted for debt service payments on bonded debt.

Total Outstanding Debt Obligations:

• $324,967,774 - Principal
• $225,463,594 - Interest
• $550,431,368 - Total

Outstanding Tax-Supported Debt Obligations:

• $324,967,774 - Total Principal Remaining 
• $         21,135 - Total Remaining Per Capita
• $550,431,368 - Total Including Interest
• $         35,798 - Total Including Interest Per Capita

Total revenue-supported debt obligations:  Argyle ISD has no revenue-supported debt obligations.

Total lease-purchase or lease-revenue obligations:  Argyle ISD has no lease-purchase or lease-revenue debt obligations.

Historical Bond Election Information

Debt Service Fund Audited Fiscal Years 2018-2022

Argyle ISD currently has no upcoming elections scheduled.  A bond committee has recently formed and is reviewing the possibility of an upcoming bond election.