WHAT ARE SCHOOL BONDS AND HOW DO THEY WORK?
The best way to think about school bonds is that they are a loan, a type of borrowed debt, for which there is an immediate need and benefit. The city writes a check to the school district to cover the needs the district has for the schools on the bonds. The money for that loan is paid back over a period of many years by the citizens of Anchorage through property taxes. Every year, the final payment from a previous bond cycle is paid off as a new year of bonds is added. The goal is to keep the needs of our schools within the margin of fiscal responsibility by borrowing debt within the means of that debt which is being retired. There will always be school needs and therefore it is our responsibility as a society to ensure those needs are covered as did the many generations before us when we were in school.
The school district determines which schools need repairs and upgrades...
Voters pass the bonds by VOTING YES...
New bond debt is allocated as the previous bond debts are paid off...
The school district gets the money they need and the schools get their repairs and upgrades.
THE ANCHORAGE SCHOOL DISTRICT ROUTINELY RETIRES MORE BOND DEBT THAN THEY ASK FOR, THIS YEAR IS NO DIFFERENT:
SCHOOL BOND DEBT BEING RETIRED THIS YEAR
SCHOOL BOND INVESTMENT REQUESTED BY BONDS THIS YEAR