The board’s approval allows the district to sell the bonds within a range of dates in order for the district to determine the best market conditions and receive the lowest interest rates possible, GISD Chief Financial Officer Pam Sanchez said.
GISD will sell $83.62 million in fixed-rate bonds between Jan. 14-18 and sell $40 million in variable-rate bonds between Feb. 4-7.
The district will also hold a local sale to local business owners, banks and individual investors the day before the bonds are opened to the rest of the market, Sanchez said.
“Right now the market is looking good, so we are trying to get this done as soon as possible in order to get the funding to start the projects,” she said.
In November, GISD voters approved a $150.5 million bond package. GISD expects to have the $123.62 million—the amount of money the district needs within the year to start the 2018 bond projects—by Feb. 28. The remaining $26.88 million in bonds will be sold in 2020, when the district will begin looking to furnish schools and work on secondary projects, Sanchez said.
Refraining on selling all the bonds immediately will keep the district from paying more in interest than what is necessary, she added.
“We appreciate [the voters] passing the bond and are looking forward to improving the district and facilities and needs for their students,” Sanchez said.
In other business
Georgetown ISD received nearly $61,000 from the Williamson County Tax Assessor/Collector’s Office.
The $1.50 child safety fee collected by the office during the year is redistributed to schools in the district, said Larry Gaddes, the county's tax assessor/ collector.
Gaddes said the money can be used for child safety or child nutrition. GISD uses the money to fund school crosswalk guards, Sanchez said.
“I’d like to go on the record that the tax assessor collector is actually giving some money back,” Gaddes said.
The Dec. 17 meeting marks the first held in the newly renovated Hammerlun Center for Leadership and Learning.
Correction: An earlier version of this story said an additional $1.50 registration fee also contributes to the fund redistributed to schools. It does not.
