Allen ISD believes in providing our taxpayers with clear and relevant financial information. We are committed to providing this financial information in a format that is transparent, easily accessible and understandable.
The Debt Service Fund accounts for payments of principal, interest, and related fees on the District’s general obligation bonds. Under Texas law, only these debt service payments can be accounted for in this fund. The Texas Education Code Section 45.003(e) specifies that a school district is able to issue unlimited tax bonds, provided that the district demonstrates its projected ability to pay such bonds plus the District’s outstanding bonds (excluding bonds authorized by an election held on or before April 1, 1992, and issued before Sept. 1, 1992) at a debt service rate of not more than $0.50 per $100 in valuation.