The action taken
Trustees approved a resolution authorizing the district to issue the remaining 2022 bond. The principal amount of the bond will not exceed $646.4 million, said Laura Alexander, senior managing director at Hilltop Securities.
According to PISD documents, the district will price the bonds the week of Jan. 13 and the funds will be delivered Feb. 19.
Additionally, Alexander said the district is targeting the same debt service tax rate of $0.23735.
The background
The issuance comes as part of the voter-approved 2022 bond package totally, nearly $1.3 billion. The bond included $1.17 billion for various school renovations and included major renovations to the high schools, new accessible playground equipment at every elementary school, building tracks at middle schools and more.
The package also included a proposition allowing $173.45 million in bonds for instructional technology, including new mobile devices for students, classroom multimedia audio-visual equipment, data center upgrades and replacing copy machines.
