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<p>OF, in theory perhaps, but that page has been turned a long time ago. Here’s a different reality:</p>
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<p>Funding in that same year was close to 58 billions; local property taxes amounted to about 21 billions. </p>
<p>Source: [Public</a> Education Spending in Texas - Executive Summary - FAST](<a href=“http://www.fastexas.org/study/exec/spending.php]Public”>http://www.fastexas.org/study/exec/spending.php)</p>
<p>By the way, as an FYI, the Allen ISD is now 440,000,000 in debt. With interest, the district will have to repay close to $800,000,000. The district will probably plateau at 95,000 inhabitants, and between 20 to 25,000 students. </p>
<p>Most projections to support such debt are based on very rosy projections of increased tax bases and raising property values. Throughout the nation, most municipalities are finding out that the present, and especially the future will hardly deliver those rosy projections. </p>
<p>Some day, all those bills will come due. And there are plenty of public entities that are now understanding that there is no way to kick the can further down the road and find easy solutions to their wasteful spending. </p>
<p>We do live on borrowed time and money!</p>