Trustees approved the district’s issuance of school construction bonds, the second new money sale for use on projects approved as part of the 2017 Bond. The key aspects of the bond order include:
- Maximum amount of bond sale is $99,420,000
- Maximum maturity date of the bonds is 30 years
- Maximum interest rate of the bonds is 5.50%
- Pricing officers shall include Board President, Board Vice-President, Superintendent, and CFO
- Bond which may not be used are capital appreciation bonds, convertible capital appreciation bonds, and variable rate bonds
The sale will fund multiple bond projects, including funding of the new school buses (50 general education buses, 7 special education buses) that will feature air conditioning.
“The district’s commitment to managing financial resources in a responsible way has resulted in LISD being in a great position to move forward with this bond sale,” Board Secretary Trish Bode said. “The projects funded will further address security upgrades and help us accommodate student growth across Leander ISD.”