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School Bond

2019 School Bond Overview

On February 28, 2019 the School Board unanimously approved a recommendation to seek the maximum allowable bond referendum to include construction of a new state-of-the-art high school.

Subsequently, meetings were held with FEMA, MEMA and public adjusters Abercrombie, Simmons and Gillette who studied the storm damage to the buildings hit by the tornadoes in 2016.  FEMA/MEMA indicated that three schools should replace the damaged buildings. The Board of Trustees and the Superintendent decided to request designs for:

  1. PreK-8 elementary school for up to 900 students in Durant
  2. 9th grade center for 350-400 students, location to be determined
  3. 10th-12th grade high school for 700 students, location to be determined

The inaugural meeting of the Steering Committee for the Citizens for the VOTE YES School Bond Referendum was held August 30th. County leaders joined volunteers to create the following committees to address the referendum:

  • Media Committee
  • Sub-Committees:
    • Community Leaders Committee
    • Schools Committee
    • Youth Committee
    • Speakers Bureau Committee
    • Get out the Vote Committee
    • Finance Committee

Early voting begins October 10th. Election Day is Tuesday November 5th. Voting is available at the Holmes County Circuit Clerk’s Office.

Learn More about the School Bond Referendum

Check any of the links below for more information on the school bond.

Steering Committee Launch

Information Flyer

Overview Presentation

Overview Video

Parent Video

Frequently Asked Questions

What is a Bond?

In the same way 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 the design, construction, expansion and renovation of schools.

How can bond funds be used?

Bond funds can be used to pay for new buildings, additions and renovations to existing facilities, land acquisition, technology equipment and infrastructure and equipment for new or existing buildings.

What must the District do in order to issue bonds?

The bonds must be approved by at least 60% of registered voters voting in a bond election called by the school district.  The school district has called a bond election for November 7, 2019.

What amount of bonds will the school district issue?

The school district will issue up to $18.4 Million in bonds.

What is the term length of the bond?

Maximum of 20 years

How will the bonds be repaid?

The bonds are repaid from a special tax levied on all taxable property in the district, such as houses, automobiles, public utilities.

What will be the average tax increase for my home?

Assuming a bond issue of $18.4 Million and depending on the bond interest rate and growth in the tax base, the estimated increases are:

For homes with $30,000 tax roll value, the tax increase will be approximately 23¢ per day

For homes with $65,000 tax roll value, the tax increase will be approximately 34¢ per day

For homes with $100,000 tax roll value, the tax increase will be approximately 45¢ per day

How many schools will be built?

Potentially three. With the passage of the bond, we are guaranteed—at least—one new high school. Two additional schools will be funded in conjunction with FEMA/MEMA.

Where will the school(s) be located?

PreK-8 school in Durant. 9th grade Academy and 10th-12th high school in the Lexington area.

Who is eligible to vote in this election?

Any registered voter who resides within the HCCSD boundaries can vote in this election. Regardless of whether you rent a home or apartment, or own your place of residence, you can vote. Voter registration forms must be received by the County Circuit Clerk’s Office by October 7 at 5:00 pm.

I am 65 years or older and have filed my exemption for a tax freeze—will my tax rate go up?

Your taxes will not increase if your home value is less than $75,000.

If your home value exceeds $75,000, you will pay a small fee.

For information about Homestead and Over 65 exemptions please contact the Holmes County Circuit Clerk’s Office 22549 Depot St.

Who will benefit from the passage of the bond?

All students in Holmes County can benefit from the passage of the bond.

What if I don’t have children or students in your schools?

If you have ever had kids in school or were a public school student yourself, people before you helped to fund the schools you and/or your child(ren) attended. Similarly, current Holmes County residents help pay for the schools we have now and improve in the future throughout the time they live here. As new residents move into the District’s attendance area, they assume these taxes as well. Regardless of where you live, your property taxes will help fund schools. School facilities are a hub of Holmes County and are often open to all residents for academic, fine arts programs, athletic events, community meetings and other events that bring the entire community together.

Also, an educated community is a thriving community. Great schools increase property values and safe schools help ensure safe neighborhoods. Young people are our future workforce, homeowners and taxpayers. Their education prepares them for that next step into adulthood, and the stronger their foundation the better their outcomes.

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