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

  • University of Tennessee at Chattanooga Launches New Emergency Communications System

    The University of Tennessee at Chattanooga (UTC) recently deployed a new emergency notification and incident management system for its campus, according to a news release. The university partnered with 911Cellular to launch Safe@UTC, a smartphone app allowing university officials to communicate and respond during emergency situations.

  • CU-Lock Haven Receives $1.75M Gift for New Entrepreneurship, Media Center

    Commonwealth University-Lock Haven in Lock Haven, Penn., recently received a $1.75-million donation from entrepreneur and alumnus Nicholas Subich ’17, according to a university news release. The funds will go toward establishing the Nicholas Subich Center for Entrepreneurship and Media, a technology-driven hub for innovation and experiential learning.

  • Surging Demand for Student Housing Fuels Major Campus Investment Opportunities

    University leaders throughout the U.S. are accelerating plans to modernize and expand student housing as enrollment stabilizes and demand for on-campus living rebounds. Recent data from the National Center for Education Statistics indicates that total postsecondary enrollment is projected to grow through the end of the decade, with undergraduate enrollment alone expected to increase by more than 8 percent by 2030.

  • Spaces4Learning Trends & Predictions for Educational Facilities in 2026: Part II

    As education leaders look toward 2026, the design of K–12 and higher education facilities is being reshaped by powerful, converging forces. Survey respondents point to the rapid growth of Career and Technical Education, deeper alignment with workforce and industry needs, and the accelerating influence of AI and emerging technologies.