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.

  • classroom with crystal ball on top of a desk

    Call for Opinions: Spaces4Learning 2026 Predictions for Educational Facilities

    As 2025 winds to a close, the Spaces4Learning staff is asking its readers—school administrators, architects, engineers, facilities managers, builders, superintendents, designers, vendors, and more—to send us their predictions for educational facilities in 2026.

  • NWEA Report Recommends K–12 Natural Disaster Recovery Strategies

    The Northwest Evaluation Association (NWEA), a K–12 assessment and research organization, recently announced the release of a new playbook for schools and communities recovering from extreme weather events, according to a news release.

  • LAN, Inc. Opens Office in College Station, Texas

    Lockwood, Andrews & Newnam, Inc. (LAN) recently announced the opening of a new office in College Station, Texas, to support its regional client base, according to a news release. The organization provides engineering, design, and program management services for water, wastewater, transportation, stormwater, and education clients in the Brazos Valley.