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Debt obligation transparency star

School districts and other government entities issue bonds to finance major expenses such as building additions and renovations, equipment upgrades, constructing new buildings and more. A bond election approved by voters allows the district to issue bonds as needed to supply cash for these projects.

Similar to how homeowners use a mortgage to finance a house over time, the district uses the Debt Service/Interest & Sinking Fund to repay the bonded debt, both principal and interest, over time. The Debt Service/Interest & Sinking tax rate is set each year to generate tax revenue sufficient to repay debt payments for the year. The second part of a district's tax rate, the General Operating/Maintenance & Operations tax rate, is used to pay for the day-to-day operations of the District.

Debt information summary

2023-24 tax rate

Breakdown of tax rate. All amounts per $100 of taxable value.
Rate type Amount
Maintenance & Operations $0.6692
Interest & Sinking $0.3840
Total Combined Tax Rate $1.0532

Current credit ratings

Agency Rating
Moody's Aaa
Fitch AA+

Historical bond election information

On May 6, 2023, the Garland ISD community voted on the district’s $1.279 billion 2023 Bond.

Bond authorization data as of 6/30/23
Authorization Year Issued Unissued Total Authorization Amount
2014 455,500,000 - 455,500,000
2002 385,000,000 - 385,000,000
1996 156,000,000 - 156,000,000
1992 110,000,000 - 110,000,000

All bonds authorized to date have been for the purpose of constructing, renovating and equipping school facilities in addition to technology needs. For more information regarding 2014 Bond projects, visit the 2014 Bond page.

Tax-supported debt obligations

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Bar chart showing GISD Debt Obligations Principle and Interest as of June 30th, 2023.

Total tax-supported debt outstanding debt obligations at June 30, 2023: $345,570,000.

Tax-supported debt per capita is $1,101.32.

Principal and interest as of 6/30/23 - See text description of the graph

The district does not have revenue-supported debt, lease purchase obligations or lease revenue obligations.

Contact us

Have questions? Use the links below to find contact information for district officials who can help.
Citizens may request to review or obtain public information (including mailing lists of student names) by contacting us with a detailed description of the requested information. There may be costs associated with the requests.