Texans love to be #1 but we are #2 in the country one dubious area – local government debt. Texans owe $322 billion in local debt with the majority of it being school district debt. AFP-Texas has been the leading organization sounding the alarm on the growth in local government debt. On the May ballot, Texans in about 65 jurisdictions will be asked to consider $6.4 Billion in additional debt. Find out more about the May ballot initiatives – and see if you are being asked to consider more debt.
Among those initiatives voters will be asked to approve in May is Arlington ISD’s $1.2 Billion package – the largest on the ballot. Frisco ISD is asking the taxpayers to approve a $775 Million which when added to the $2.6 billion in principal and interest already outstanding constitutes what could be considered runaway debt. Our friends at the Texas Public Policy Foundation have provided an informative oversight of Frisco ISD‘s financial follies.