Eanes ISD tax rate set, bonds redeemed and more from the Aug. 28 board meeting

Eanes ISD board of trustees approved the 2018-19 tax rate and more at the August 28 meeting.

Eanes ISD board of trustees approved the 2018-19 tax rate and more at the August 28 meeting.



Tax rate unchanging
The tax rate for 2018-19 will remain at $1.20, the same as last year.

The Eanes ISD board of trustees approved that the tax rate remain unchanged at the Aug. 28 meeting.

The total tax rate of $1.20 includes $1.06 for the general fund---maintenance and operations---and $0.14 for debt service---interest and sinking---a staff report said.

The proposed tax rates were calculated based on 2018 certified property values provided by the Travis Central Appraisal District on July 15.





District to redeem bonds, save interest
There are now about $110.4 million of outstanding unlimited tax bonds in EISD, according to district documents.

Included in this amount is $2.19 million of 2015 bonds that are due and payable on Aug. 1, 2032. They can be redeemed prior to their scheduled due date.

The district intends to redeem the 2015 bonds in February 2019, which will save about $1.48 million in interest over the remaining life of the bonds.

Including the above redemption, since 2013 EISD has redeemed $16 million of its existing debt, saving $10.76 million in avoided interest payments.





2015 bond committee will continue to advise
The board approved to reconstitute the 2015 bond oversight committee as the bond advisory committee. It also approved changes to the bond oversight committee operating procedures.

The previous procedures did not allow for the committee to act as an advisory committee for a potential future bond program. The update to the operating procedures enabled the board to serve in this role going forward.





Security contract approved
The board approved a $152,529 agreement with Knight Security Systems for the 2018-19 school year.

The agreement includes maintenance and repair of districtwide security cameras and access-control devices. It also includes software license management, maintenance of systems records and an annual system software upgrade.