Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is a bond and why do we have elections?

April 26, 2017Bond elections

0

Posted

What is a bond and why do we have elections?

1 Answer

0

Posted

A. Just like homeowners borrow money in the form of a mortgage to finance the purchase of a home, a school district borrows money in the form of bonds to finance construction of new schools and renovation projects. Both are repaid over time, but in order for a school district to sell bonds, it must go to the voters for approval. By law, bond funds may not be used to fund daily operating expenses or salaries. Bond funds may only be used for the projects previously described.