According to a June 28 news release from the district, the $99 million will allow the district to begin work on Elementary School No. 7 and Phase 2 of Lake Creek High School, which will expand the capacity there by 900 students.
Trustees previously approved the purchase of 15 new buses in May, planning for delays in the supply chain, from the general fund to be reimbursed by bond funds once secured.
District officials noted the interest rate secured for the June 28 bond sale will not require an increase to the district's tax rate. According to the June 28 release, MISD anticipates a drop in its property tax rate per $100 valuation from $1.26 to $1.23 for the upcoming year in response to rising property values. The tax rate will come before the board for approval likely in August, according to the district.
Prior to the June 28 meeting, trustees had also voted during a special meeting to select two architectural firms to design the major bond projects—Huckabee Architects and PBK Architects, according to the June 28 release.
Huckabee Architects will work on projects at Lake Creek High School, Elementary School No. 7, the MISD Career and Technical Education Center, and the MISD Ag-Science Center that voters approved in Proposition A as well as facility upgrades at Keenan Elementary, Oak Hills Junior High and Lake Creek High schools, according to the release.
PBK Architects will be tasked with upgrades to the MISD Athletic Complex, which voters approved in Proposition B, and upgrades at seven other MISD campuses, according to the release.
“We are very excited to continue our partnership with Huckabee Architects and begin a new relationship with PBK Architects,” Morrison said in the release. “Each of these firms is highly respected, and we are more than confident that they will contribute extraordinary value as we design facilities that will not only accommodate our growing district but also make our community proud of the educational learning environments available to students.”