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An election
will be held on Tuesday, November 6, 2007 to give Irving ISD citizens the opportunity
to vote on one school bond proposition.
Definition of School Bond
School
bonds are evidence of debt which the issuer (the school district) sells and
promises to repay, with interest, in a given amount of time. Banks and large
investment firms usually buy the bonds.
The school
bond portion of the election ballot will be printed to give the voter the
opportunity to vote FOR or AGAINST on the following proposition:
“The
issuance of $249,975,000 of bonds for acquiring, constructing and equipping
school buildings, purchasing necessary sites therefore and purchasing new school
buses, and the levying of a tax in payment thereof.”
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