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Texas ISD’s Owe Staggering $111.5 Billion in Debt

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  • Texas ISD’s Owe Staggering $111.5 Billion in Debt

    FLYNN: Texas ISD’s Owe Staggering $111.5 Billion in Debt

    Capital Appreciation Bonds circumvent current spending, borrowing limits

    Texas Insider Flynn, Dan 1-23-12Texas Insider Report: AUSTIN, Texas – “Texans deserve transparency in local bond elections involving schools and other governmental bodies. Texans deserve the right to know how much debt there is, and I hope my legislation will help shine light on this vital issue,” said State Rep. Dan Flynn (R-Van,) presenting support for his Transparency Legislation, HB 114 and HB 1378. The information appeared troubling to many in the audience, when it was revealed that total school district municipal debt is more than $112 billion, with 20+ Texas ISD’s carrying over a billion dollars in debt.

    Flynn’s legislation would require transparency to ensure Texans are fully informed of each ISD’s actual debt level, its consequences, as well as putting limits on Capital Appreciation Bonds. Those type of bonds are used often as a tool to help school districts but are also very susceptible to abuse.

    “Many Texans are concerned when they learn their ISD’s are indebted in the billions of dollars.

    “It appears the overuse of this tool (Capital Appreciation Bonds) could be an open invitation to get around current limits on spending and borrowing, and there is an urgent need to reign in this type of abuse.” said Flynn.

    More worrisome, Texas has extremely high levels of local debt. Some of the highest in the nation.

    According to the Texas Bond Review Board, local governments have almost $200 billion in local outstanding bond debt, comprising a full 83% of all public debt in Texas.

    Flynn, Dan ISD Debt Service as of 8-31-14

    According to Flynn,

    “To ensure voters are adequately informed about any new debt they are being asked to approve, transparency of the levels of debt, payments and per capita Dan Flynn4-16-13burden need to be disclosed on a regular basis.

    “These transparency requirements should apply to all political subdivisions, including cities, counties, school districts and special taxing districts,” Flynn said.

    HB 1378 and HB 114 seek to enhance the transparency of political subdivision debt obligations as a means to allow the citizens of Texas a method to see what they are voting for, and what it does to debt on themselves and their child and grandchildren, before they vote.

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    I wear a Fez. Fez-es are cool

  • #2
    So let me get this straight.

    They get shit loads of tax money from us, borrow fuck loads of bond money, get donations from box top programs all the way through the texas lottery, claim to not be able to afford toilet paper - getting parents to pay for that too. All of this to provide a piss poor education...... and STILL BE IN THE FUCKING RED?!?!


    Nope. No problem there.
    Last edited by sc281; 05-12-2015, 11:28 PM.

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    • #3
      Seems that betting on constantly increasing property values without giving a single concern to fiscal responsibility isn't working out too well.

      At least texas public education is at the top of the nation...

      Comment


      • #4
        Oh, what do you know, a bunch of liberals can't manage money.


        What a surprise.
        "When the people find that they can vote themselves money, that will herald the end of the republic." -Benjamin Franklin
        "A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury." -Alexander Fraser Tytler

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        • #5
          When you have these schools prioritizing huge ass stadiums that fall apart before a game can be played in them, and multi-million dollar structures that are not directly related to education, you get these things.

          I'd love to see every expenditure on a ballot, every year.
          I wear a Fez. Fez-es are cool

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          • #6
            Originally posted by Forever_frost View Post
            When you have these schools prioritizing huge ass stadiums that fall apart before a game can be played in them, and multi-million dollar structures that are not directly related to education, you get these things.

            I'd love to see every expenditure on a ballot, every year.
            That is hands down the best idea you've ever had. Bravo!
            ZOMBIE REAGAN FOR PRESIDENT 2016!!! heh

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            • #7
              Originally posted by YALE View Post
              That is hands down the best idea you've ever had. Bravo!
              You do realize Obama was elected by voters...twice! While I agree expenditures should be public and voted on, the problem is the people that vote (or don't vote).

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              • #8
                Originally posted by Sean88gt View Post
                Seems that betting on constantly increasing property values without giving a single concern to fiscal responsibility isn't working out too well.

                At least texas public education is at the top of the nation...
                Well heck, with the math scores, seems reflective of the admin then...
                "Self-government won't work without self-discipline." - Paul Harvey

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                • #9
                  Originally posted by Sean88gt View Post
                  At least texas public education is at the top of the nation...
                  That's like winning a gold medal in the Special Olympics, you're still retarded.

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                  • #10
                    Originally posted by SBFORDTECH View Post
                    That's like winning a gold medal in the Special Olympics, you're still retarded.
                    "Kid with downs wins the race, even though he stood in place, olympics.
                    SPECIAL OLYMPICS!"

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                    • #11
                      Originally posted by Forever_frost View Post
                      When you have these schools prioritizing huge ass stadiums that fall apart before a game can be played in them, and multi-million dollar structures that are not directly related to education, you get these things.

                      I'd love to see every expenditure on a ballot, every year.
                      This shit right here is a direct result of the "Robin Hood" program.

                      Another problem with the public schools is this: A teacher is required, by their respective district, when using school money for supplies, to purchase them from a "sponsored" outlet. $5 for a small box of pencils, $7 for a pack of notebook paper, etc. (Figures may be slightly embellished to prove the point).
                      When the same box of pencils or pack of paper can be had at Wallyworld for less than $2 combined. But if the teacher uses Wallyworld, they have to use their own fucking money.

                      The shit is completely ridiculous from the bottom to the top.
                      "We, the people, are the rightful masters of both congress and the courts - not to overthrow the constitution, but to overthrow men who pervert the constitution." Abraham Lincoln

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                      • #12
                        We need to resurrect McNamara and the whiz kids to fix this shit.
                        Originally posted by lincolnboy
                        After watching Games of Thrones, makes me glad i was not born in those years.

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                        • #13
                          Originally posted by asphaltjunkie View Post
                          This shit right here is a direct result of the "Robin Hood" program.

                          Another problem with the public schools is this: A teacher is required, by their respective district, when using school money for supplies, to purchase them from a "sponsored" outlet. $5 for a small box of pencils, $7 for a pack of notebook paper, etc. (Figures may be slightly embellished to prove the point).
                          When the same box of pencils or pack of paper can be had at Wallyworld for less than $2 combined. But if the teacher uses Wallyworld, they have to use their own fucking money.

                          The shit is completely ridiculous from the bottom to the top.
                          That's not much different than any corporate situation unfortunately. My wife is a teacher, and I've had discussions with her for years. The problem is the people running most school districts are educators that learned in the classroom teaching kids. They need business people running the district and the schools, not former teachers.

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                          • #14
                            Guys, I have a great idea! Let's give them more money since they have done such a bang up job of managing what they already get.
                            Originally posted by racrguy
                            What's your beef with NPR, because their listeners are typically more informed than others?
                            Originally posted by racrguy
                            Voting is a constitutional right, overthrowing the government isn't.

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                            • #15
                              Originally posted by juiceweezl View Post
                              That's not much different than any corporate situation unfortunately. My wife is a teacher, and I've had discussions with her for years. The problem is the people running most school districts are educators that learned in the classroom teaching kids. They need business people running the district and the schools, not former teachers.
                              my wife and I have had that same conversation.
                              "If I asked people what they wanted, they would have said faster horses." - Henry Ford

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