Does refunding create additional debt?
No, refunding is like refinancing a home from a higher interest rate to a lower interest rate. At Fort Worth ISD, the refundings have saved millions of dollars. The debt payments of Fort Worth ISD are independent of any TRE funding. For example, in a household, if an individual’s income increases, the amount they may pay on a fixed mortgage does not change because of increased income. The TRE impacts a revenue source and does not affect fixed debt payments.