ALBA, Texas (KETK) – The Alba-Golden Board of Trustees agreed to call for a $16 million bond election. Residents will be able to vote on the bond on May 7.
The board voted unanimously in favor of calling for the bond on Feb. 15 after the Facilities Improvement Committee made the recommendations.
The $16 million would be used to add six new classrooms at the elementary school and a new competition gym for the high school, as well as renovations to the existing CTE building to create a CTE center that will offer more classes.
“The school board has agreed to contribute up to $1 million dollars from fund balance towards the CTE center to bring the total building program to $17 million. However, voters will be asked to fund $16 million through a bond package,” said Alba-Golden ISD.
The bond would lead to a tax increase of .3165 for the total tax rate (from .9996 AGISD tax rate to 1.3161 AGISD tax rate).
The tax rate could also be affected by a new state homestead exemption proposal that would increase the existing exemption from $25,000 to the new proposed $40,000.