Skip to main content
Add as a preferred source on Google

Texas School District Bond Refi to Save $16 Million

  • By Dian Schaffhauser
  • 02/09/21

A Texas school district has refinanced its outstanding bonds, a move that it expects will save nearly $16 million. According to Waco Independent School District, the bonds' maximum interest rate of 4.28 percent has been cut down to 1.655 percent. That will save $15.84 million over the remaining life of the bonds, which ends in 2038.The bonds total $85.3 million.

"This was a clear opportunity to demonstrate good fiscal stewardship of district and community resources," said Superintendent Susan Kincannon, in a statement. "With RBC Capital Markets' guidance, our business and financial services department has taken advantage of low bond interest rates to save taxpayers money and reduce the district's debt service costs."

As part of the process, the district's Moody bond rating of Aa2 was reaffirmed.

"This is a very strong rating and reflects the district's history of conservative budgeting and management practices," added Assistant Superintendent for Finance, Sheryl Davis. "We are pleased that favorable market conditions provided us the opportunity to refinance these bonds to benefit the district and taxpayers."

The funding, which involved a series of bonds, paid for construction of a high school and three elementary campuses.

About the Author

Dian Schaffhauser is a former senior contributing editor for 1105 Media's education publications THE Journal, Campus Technology and Spaces4Learning.

Featured

  • UNT Dallas Holds Ribbon-Cutting Ceremony for $100M STEM Building

    The University of North Texas at Dallas in Dallas, Texas, recently celebrated the opening of its new, $100-million STEM Building, according to local news. The ceremony on Dec. 2 preceded the first day of classes in the facility on Jan. 12, 2026.

  • How a Portable Sink Helped an Art Classroom Run More Smoothly

    Classroom design decisions can have outsized effects on instructional time and safety at schools juggling mismatched infrastructure, strict budgets, and crowded schedules — particularly in the arts. Between spilled paint and dirty brushes, art classes run smoother with a sink in the studio. But many schools don’t have a sink in every art classroom.

  • Moline-Coal Valley School District to Consolidate Two Schools into New Facility

    The Moline-Coal Valley School District in Moline, Ill., recently broke ground on a new elementary school that will consolidate the students and staff from two existing schools, according to local news. Robert Ontiveros Elementary School will serve as the new home for Lincoln-Irving Elementary School and Willard Elementary School.

  • Minnesota Middle School Finishes $23.5M Addition and Modernization

    Highland Park Middle School in St. Paul, Minn., recently announced the completion of a $23.5-million addition and remodel project, according to a news release. Saint Paul Public Schools partnered with ATS&R Planners, Architects & Engineers for its design and Kraus-Anderson for its construction.