On August 7, 2025, Richardson Independent School District (RISD) issued a bond election order calling for a $1.4 billion bond package to be decided on the uniform election date in November (11/04/2025). The order sets out three bond propositions, with each one covering a different topic, including:
- Proposition A provides for the issuance of $1,338,600,000 (95.6% of the proposed bond package) to cover expenses pertaining to the maintenance of present schools, purchasing sites for the construction of future school buildings, and purchasing school buses and the maintenance thereof.
- Proposition B provides for the issuance of $54,000,000 (3.9%) to purchase technology, like computers and tablets.
- Proposition C provides for the issuance of $7,400,000 (0.5%) for football stadium improvements, such as LED lighting, turf renovations, and making those same facilities ADA (Americans with Disabilities Act)-compliant.
Of course, there is more here than meets the eye when it comes to how much the bond package will actually cost residents of RISD beyond just the $1.4 billion popularized.
Between the Lines
For starters, the bond election order only provides the principal amounts only, which only tell part of the story. Voters very often are unaware of the interest component, which is the sum of money charged on top of the principal amount for the privilege of borrowing, and in turn increases the total debt owed. Since interest costs are excluded from the bond election order and the proposition language provided to voters on Election Day, it is essential to dig a little deeper and see how much these bonds may ultimately cost Richardson ISD.
To do this, we must turn to the Voter Information Documents (VIDs).
Proposition A
According to Proposition A’s VID, the district’s proposed principal debt ($1,338,600,000) comes with an estimated interest cost of $911,390,958, meaning that its approval will cost taxpayers a total of $2,249,990,958. Keep in mind this assumes no cost overages for any capital improvement projects.
Proposition B
Proposition B’s VID suggests that the district’s proposed principal debt ($54,000,000) comes with an estimated interest cost of $7,767,400, potentially costing taxpayers as much as $61,767,400. The district’s current debt service outstanding (principal and interest) as of August 2025 was $1,449,068,308.
Proposition C
Proposition C’s VID reveals that the proposed principal debt amount ($7,400,000) carries an estimated interest cost of $1,223,200, totaling up to $8,623,200.
Final thought
It’s important that voters know the full cost of any new debt proposals or set of proposals. Only by having complete understanding of this cost, which includes estimated principal and interest amounts—can we expect Texans to make an informed decision about borrowing.
In Richardson ISD’s case, the difference between the advertised cost and the actual cost is significant too. Consider that the district is openly promoting a “$1.4 billion bond package,” but when interest costs are accounted for, its total borrowing costs will exceed $2.3 billion.
This means that the actual cost ($2.3 billion) is more than 60% higher than the advertised cost ($1.4 billion).
Of course, it’s up to voters what to do with this information, if anything. But before Richrdson ISD voters can an informed decision, they should understand that there is far more than meets the eye here.
