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No 'magic' ability exists for school districts to borrow money for free or at unrealistic rates. BONDS are LOANS with: 1) AMOUNT, 2) TERM AND 3) INTEREST RATE. Taxing entities often confuse voters with peripheral issues and unproven future events. Section 3.009 of the Texas Election Code was passed to counteract this misleading practice and impose disclosure standards. Created in 2013, 3.009 helps voters understand the tax consequence of their choice, based on real world metrics - a "TRUTH IN BORROWING" law. SECTION 3.009 BASIC REQUIREMENTS. SHOW CURRENT DEBT SHOW CURRENT TAX RATE TO SERVICE EXISTING DEBT SHOW TOTAL DEBT PROPOSED SHOW FUTURE TAX RATE TO SERVICE PROPOSED AND EXISTING DEBT MUST BE POSTED IN A PROMINENT PLACE AT EVERY POLLING LOCATION ROUND ROCK ISD CURRENT DEBT: $807,000,000' ($1,220,000,000 with interest) CURRENT DEBT TAX RATE: $0.2925'/$100 valuation ($0.178 actually needed*) 2017 DEBT (bond) PROPOSED: $572,095,000' ($1,014,788,651 with interest) ANNUAL PAYMENT ON PROPOSED DEBT: $40,591,546? RATE REQUIRED TO REPAY PROPOSED DEBT (BASED ON $30.8B ROLL): $0.13179 RATE CHANGE TOLD TO PUBLIC: + $0.0101" COST PER $100K VALUATION: $131.79/yr - $10.98/month COST ON AVERAGE VALUE HOME ($264,742"): $348.90/yr - $29.08/month HAYS CONSOLIDATED ISD 3A CURRENT DEBT: $296,520,000' ($432,593,990 with interest) CURRENT DEBT TAX RATE: $0.4977' 7/$100 valuation ($0.293 actually needed?) 2017 DEBT (bond) PROPOSED: $250,000,000" ($43,500,000 with interest) ANNUAL PAYMENT ON PROPOSED DEBT: $17,738,114? RATE REQUIRED TO REPAY PROPOSED DEBT (BASED ON $6.5B ROLL): $0.273 RATE TOLD TO PUBLIC: NO CHANGE COST PER $100K VALUATION: $273/yr - $22.75/month COST ON $250K HOME: $675/yr - $56.25/month * DISTRICT NUMBER 50 IS STATE STATUTORY CAP/MAXIMUM. D ON 5% RATE, 25YR TERM