Lamesa school board members proposed a threecent tax increase Thursday to cover bond indebtedness due to a $98.9 million drop in property values from oil, gas and industry sources. That decrease affects the district’s Interest and Sinking (I&S) portion of the budget. Board members designated Aug. 24 as the date to consider approving the more than $20 million budget and conducting a public hearing on the tax rate. I&S is the portion of the district’s finances to cover its loans. The district’s debt includes a $30.4 million bond passed by voters in May 2018 to pay for new school facilities and upgrades ...