TIOGA, Texas. (KTEN) - The fate of a bond worth $26,306,000 at Tioga ISD will be decided this Election day.

According to the Tioga ISD Superintendent, it can be described as untraditional.

"We aren't asking for new facilities, we aren't asking for any new debt, it is strictly the little over 26 million dollar that is owed on the building that we're standing in - Our high school building," stated Josh Ballinger, Tioga ISD Superintendent.

Texas schools have two tax rates: The maintenance and operations tax rate (M&O) covers things like teacher salary and supplies. The interest and sinking tax rate (I&S) contribute to the debt that funds a district's facilities.

The bond would switch those around.

"We're looking at the whole 26 million dollar approval, but will actually only be able to move about 6 million of that - It's more or less a refinance," said Ballinger.

If approved, it will raise ISD property taxes by nearly 39 percent, adding 14 cents to the current 36 cent tax rate.

This puts the amount to 50 cents, the maximum allowable rate.

"The majority of most every budget in the state of Texas operations is payroll. As it stands right now, we're taking 1.5 million dollars out of that and using that on the payment of this building when we could be using it somewhere else."