Its official, the Texarkana, Texas, Independent School District board has approved a resolution calling for a 27-million dollar bond issue. Voters will see the issue on the May 12th ballot. A Performing Arts Theatre on the Texas High campus will take up a majority of the money. The project is expected to cost at least 10-million dollars. It would replace a theatre that only holds 350 people with one that seats a thousand. It will also house several classrooms. Parking lots, school roof tops, school buildings and improvements at the high school stadium are also included. James Henry Russell says this is a great time for the bond election, the current tax rate is a $1.57 and next year it will drop to around $1.25. If the bond issue doesnt pass, Russell says at least 7-million dollars worth of improvement projects must still be taken care of.