Bond elections: How much are they really worth?
By 10/18/2007 00:00:00
The Ellis County Press
ELLIS COUNTY - That $103 million bond election in Midlothian is worth a lot more than voters realize, according to an analysis done by The Ellis County Press of cities and school districts.
The Texas Bond Review Board, a state agency charged with monitoring taxing entities' bond elections and debt loads, shows just how much debt taxpayers in Ellis County owe (from 1999 to 2007) to pay for schools, streets, fire protection and a myriad of other wish-list items entities ask for.
Some items are approved by voters in elections, but state law allows certain entities like cities to approve millions in bonds without a vote of the public.
The list of debt each city or school district, plus the government of Ellis County itself, is listed below:
Waxahachie Debt: $108,316,418
Midlothian Debt: $137,703,468
Red Oak Debt: $42,206,778
Ennis Debt: $75,524,549
Ferris Debt: $5,028,442
Ovilla Debt: $14,040,620
Maypearl Debt: $648,540
Italy Debt: $11,084,121
Waxahachie ISD Debt: $154,680,126
Midlothian ISD Debt: $360,745,594
Red Oak ISD Debt: $42,116,480
Ennis ISD Debt: $181,370,438
Ferris ISD Debt: $37,268,676
Maypearl ISD Debt: $33,834,625
Italy ISD Debt: $2,837,690
Ellis County, Texas Debt: $25,906,522
(excluding cities and schools)