GISD board approves refunding $17 million in bonds

The Georgetown ISD board of trustees approved refunding $17 million in bonds at its May 19 meeting. The refunding could save the district roughly $2.75 million throughout a six-year time period.

The funds were part of the $47 million bond proposition approved by voters in 2010. The $17 million portion paid for the district’s eleventh elementary school, Carver Elementary, which is set to open in August, GISD Chief Financial Officer Steve West said.

The $17 million was initially issued as a variable rate bond with a three-year term in 2012. The board’s decision this week to refund for another three-year-period will run through July 31, 2018.

West said the district approved refinancing at a market rate up to 2.5 percent. Since current rates are around 1.6 percent, he expects to refinance with the lower rate when the bonds go up for sale in August.

“Those parameters give us the railings, they’re the edge of the highway, we don’t go outside of the lane that we’re operating in,” he said.

The benefit of the variable rate bond order gives the district flexibility to time the sale of the bonds during good market conditions, which can maximize savings. Over the past three years, the financed bonds saved the district about $1.8 million compared to the price of a fixed rate bond, and West said he expects to save nearly $1 million throughout the next three years. The total six-year savings is close to $2.75 million, he said.


Public schools cannot require students, teachers, parents, and other staff members or visitors to wear masks after June 4, Gov. Greg Abbott declared in an executive order issued May 18. (Courtesy Adobe Stock)
Leander ISD 'highly recommends' masks; tax-free weekend tips and more Austin-area news

Read the latest business and education news from the Central Texas area.

School supplies will be exempt from the 8.25% sales tax Aug. 6-8. (Courtesy Adobe Stock)
What to know before the statewide tax-free weekend Aug. 6-8

Customers will not have to pay the standard 8.25% sales tax on select clothing, footwear, school supplies and backpacks under $100.

Baylor Scott & White Pflugerville
Ascension, Baylor Scott & White to require all employees be fully vaccinated against coronavirus by fall

Ascension and Baylor Scott & White have announced all eligible employees must be vaccinated against COVID-19 in the coming months. 

Wise Owls Initiative collects and delivers handmade greeting cards to seniors at several long-term care facilities. (Courtesy Wise Owls Initiative)
Cedar Park nonprofit works to fight negative effects of isolation on seniors

The nonprofit partners with long-term care facilities in Williamson County to connect with elderly residents.

Georgetown City Council will hear the final proposed budget Aug. 10. (Fernanda Figueroa/Community Impact Newspaper)
Georgetown considering $90.4M budget, prepares for growth

The budget draft includes sales tax revenues totaling $23.9 million, and the city plans to add about 51 new positions.

The home prices at Berry Creek range from mid-$300,000-$2 million. (Courtesy Austin Home Search)
Featured neighborhood: Get to know Berry Creek in Georgetown

The neighborhood still has available lots and nearby amenities such as the Berry Creek Country Club.

The CDC reversed its masking guidance for fully vaccinated individuals in response to the transmissibility of the delta variant of COVID-19 in a press conference July 27. (Community Impact Newspaper staff)
NEW CDC GUIDANCE: All individuals should wear masks in K-12 schools, including those who are fully vaccinated

The new CDC guidance, announced July 27, also recommends people in areas with "high" or "substantial" levels of transmission wear masks regardless of vaccination status.

Courtesy ROCK
Ride On Center for Kids begins work on expansion in Georgetown

ROCK is a nonprofit organization that provides healing services with horses.

Habitat For Humanity
More than $500K of federal funding to support Williamson County affordable housing projects

Williamson County will receive more than $2 million from the U.S. Department of Housing and Urban Development to support infrastructure and public facilities projects.

New homes are under construction in Georgetown. (Fernanda Figueroa/Community Impact Newspaper)
Learn tips from a Georgetown Realtor about the real estate market

Learn what to do before you sell your home and what buyers are looking for.

Chick-fil-A will open a location in downtown Austin on July 29. (Courtesy Chick-fil-A)
Chick-fil-A coming to downtown Austin; Dutch Bros Coffee opens in Round Rock and more Central Texas news

Located at 600 Congress Ave., Ste. C150, the newest outpost for the fast-food fried chicken giant is locally owned by Luke Steigmeyer.