Nearly 20 Texas school districts have had their school bond guarantee program put on hold due to a struggling economy. The bond program would have helped lower interest costs for construction projects.
The economy has dragged down the value of the Permanent School Fund from a high of $26.6 billion in 2007 to about $17.6 billion today, according to the Houston Chronicle Austin Bureau.
The fund was created by Texas legislatures to help finance the state’s public school system.
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