Public School Bonds are a type of loan that school districts issue to raise funds for large capital projects like building, renovating, or repairing schools and other facilities.

School districts are required by state law to ask voters for permission to sell bonds to investors in order to raise the capital dollars needed for building projects. Essentially, the voters are asked to give permission for the district to take out a loan and pay that loan back over an extended period of time, much like a family takes out a mortgage loan for their home. A school board calls a bond election so voters can decide whether or not they want to pay for proposed facility projects.

Bond funds can be used to pay for new buildings, additions, and renovations to existing facilities, land acquisition, technology infrastructure, and equipment for new or existing buildings. Bonds cannot be used for salaries or operating costs such as utility bills, supplies, building maintenance, fuel, and insurance.

Missouri school districts are funded by three major sources: Federal, State, and Local, with the vast majority of district funds being supplied by Local and State sources. Two factors that drive school finance in Missouri are enrollment and local property values. A school district tax rate has two distinct components which, added together, make up the annual school tax rate. 

• Maintenance and Operations (M&O) funds are used to fund the day-to-day operations of a school district, including teacher and staff salaries; utilities; student services and curriculum; professional development; and facility maintenance and management.
• Interest and Sinking (I&S) funds are generated from the sale of voter-approved bonds. These funds are restricted to use only for projects such as the construction of new facilities; additions and renovations to existing facilities; safety and security projects; and purchase of capital expense items such as buses and large technology expenses.

School property taxes are set by an annual M&O plus I&S tax rate approved annually by the district’s Board of Education.

Actual property values are determined annually by local appraisal districts. School districts have no control over and do not set local property values.

The current tax rate will not increase. This proposed bond would be an extension of our current tax rate while maintaining our current tax levy.

Some households may experience an increase on their personal property values as a result of recent reassessments in Jasper and Newton Counties. Assessed valuation increases experienced in Joplin would not be tied to the proposed bond issue.

No. Bond funds can legally only be used to pay for certain things, like new buildings, additions/renovations to existing facilities, land acquisition, and technology infrastructure/equipment for new or existing buildings.

If the bond election is approved, Joplin Schools will create a bond oversight committee of district staff, community members, and taxpayers. This group will meet quarterly and receive information on how bond funds are being spent.

While it makes sound financial sense for a homeowner to eventually pay off their mortgage, knowing they might enjoy their twilight years debt-free, that is not the case for corporations, businesses, or public entities. Unlike a household, a public school district intends to last well beyond the lifetime of its current stewards. The debt we maintain now will be supporting future generations of Joplin Schools students, staff, and families.