1. Denton ISD officials' bond refinancing saves $6.6M for taxpayers
Denton ISD officials have refinanced a portion of its existing bond debt—a move that will save taxpayers $6.6 million.
District officials refinanced nearly $100 million worth of existing bond funds, said Nick Petito, DISD’s chief communications and marketing officer, during an Oct. 28 school board meeting.
Over the past two decades, district officials have been able to save taxpayers about $332 million through debt management practices. Officials were able to lower interest costs without extending the terms of its debt due to favorable market conditions, according to a district news release.
The savings ultimately help DISD maintain lower tax rates while supporting projects that boost students' learning environments and safety, the release states.
“Fiscal responsibility is one of our core commitments to the community,” DISD Superintendent Susannah O’Bara said in the release. “These savings directly reflect the diligence of our finance team in ensuring that every dollar is used wisely to benefit our students and staff.”
Read the full story by Reporter Hannah Johnson.
2. Denton OKs selling over $11M in bond funds for water treatment plant expansion
Denton City Council members unanimously approved selling $11.24 million in bond funds for the Ray Roberts Water Treatment Plant expansion at an Oct. 21 meeting.
The funds come from the Texas Water Development Board's State Water Implementation Fund for Texas program and will be repaid over a 30-year period, Assistant Finance Director Matt Hamilton said.
The expansion will increase treatment capacity by 20 million gallons per day, Hamilton said.
When the project is complete, the water treatment plant will have a capacity of 70 million gallons per day, he said.
During fiscal year 2023-24, the Water Utilities department applied for and received approval for project funding from the TWDB SWIFT program, according to city documents. The program provides financial assistance to help communities develop and optimize water supplies.
Read the full story by Reporter Mary Katherine Shapiro.
3. Denton City Council approves approximately $384M for capital improvement projects
Denton City Council unanimously approved the intent to reimburse approximately $384 million for capital improvement projects at an Oct. 21 meeting.
Assistant Finance Director Matt Hamilton said this allows the city to begin these projects with existing cash and reimburse itself later through the sale of bonds.
The money will go toward general government, solid waste, water, wastewater and electric utilities.
The city is paying for these projects through two different kinds of bonds: general obligation bonds and certificates of obligation.
The general obligation bonds, which were approved by voters in the 2023 election, total $44.22 million and will be used for:
- Streets
- Drainage and flood control
- Public art and public safety
Read the full story by Reporter Mary Katherine Shapiro.
4. Denton ISD voters OK tax rate increase, unofficial election results show
According to unofficial results, Denton ISD voters have approved raising the district's tax rate.
Proposition A received 52.93% of votes in favor with 17,441 votes. There were 15,511 votes or 47.07% of voters against the proposition.
All Denton County precincts are reporting as of 12:23 a.m. Results are unofficial until canvassed.
Read the full story by Reporter Hannah Johnson.
5. Denton City Council continues discussion of 2,500-acre Craver Ranch development
The Craver Ranch development could bring over 9,000 new homes and more than 1 million square feet of commercial space to the city of Denton.
Denton City Council members continued discussion of the 2,500-acre master-planned development at an Oct. 21 work session.
The project, developed by Old Prosper Partners, is located on the 2,870-acre area south of Lake Ray Roberts that was annexed into the city in 2008 and 2009, according to city documents.
The development will include:
- 7,019 single-family homes
- 584 townhomes
- 1, 515 multifamily units
- 1.2 million square feet of commercial space
- A 358-acre central park
- 13.5 miles of trails
- Two elementary schools
- One middle school
Read the full story from Reporter Mary Katherine Shapiro.
