What is a bond election?

School districts are required by state law to ask voters for permission to sell bonds to investors in order to raise the capital dollars required for projects such as the renovation of existing buildings or building a new school. Essentially, the voters are giving 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. School boards then have the authority to sell bonds when facilities are needed.