Grapevine-Colleyville ISD board members unanimously approved the first of three bond sales from the $150 million bond package voters approved in May.

In a nutshell

Before Josh McLaughlin from BOK Financial Securities outlined the details of the initial sale of bonds during his presentation to the board Dec. 16, he highlighted the district’s financial management acumen.

“Through using techniques like refunding bonds at a lower interest rate to prepaying bonds prior to bond maturity, since 2005 the district has been able to save taxpayers almost $126 million,” McLaughlin said.

A closer look

McLaughlin said that in terms of the dollar amount and structure of the district’s existing bonds:

• The district had $272.7 million in principal and $90.8 million in interest for a total of $363.5 million outstanding.
• The district currently maintains a Aa1 rating from Moody’s Investors Service and AA+ from S&P Global Ratings.

McLaughlin also outlined the preliminary financing plan for the three bond sales from the Nov. 4 bond package. It includes an anticipated sale schedule as follows:

• $59.2 million of Series 2025 bonds will be sold February 2025
• $64.3 million of Series 2026 bonds will be sold February 2026
• $26.5 million of Series 2027 bonds will be sold February 2027