What's happening
HISD is choosing to issue $145 million in bonds Aug. 8, around a quarter of the $522 million in bonds approved by voters in May. By selling the bonds, the district will generate funds to make improvements to facilities and technology. The public will be able to purchase the bonds and invest directly in the district, according to a release from HISD.
The details
Bonds issued Aug. 8 will carry a AAA rating by S&P Global, and maturities will range from 2024 to 2053, according to the district. Interest earned on the bonds is excluded from gross income tax for federal and Texas income tax purposes, and is not an item of preference for federal alternative minimum tax purposes.
Going forward
Those interested in purchasing HISD bonds will be able to do so from 8:30 to 10 a.m. Aug. 8 through the following institutions:
- BOK Financial Securities Inc.: 214-576-0878
- Robert W. Baird & Co. Inc.: 1-800-792-6732
- Cabrera Capital Markets LLC: 201-491-7875
- RBC Capital Markets: 214-775-6450
- UMB Bank N.A.: 214-389-5930
