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

  • Embry-Riddle Completes Construction on Research, Lab Facility

    Embry-Riddle Aeronautical University (ERAU) in Daytona Beach, Fla., recently announced the end of construction on a new research and lab facility on campus. The Center for Aerospace Engineering II (CAT II) will support aerospace research and technology development and broke ground last summer.

  • Designing the Bridge Between Inclusivity and Independence in K–12 Schools

    Fostering independence is fundamental to learning and development for K–12 students. It offers many proven benefits, such as enhanced confidence, problem-solving, decision-making, and social skills. However, this foundational objective loses its impact if it’s not accessible and adaptable to all students. Inclusivity plays a critical role in cultivating independence and healthy autonomy for students, fostering positive student learning outcomes by uniting pedagogy with the physical learning environment.

  • Year-Round Schools Require Year-Round Indoor Air Quality Planning

    While many schools are out for the summer, year-round schools follow a more “balanced” schedule with shorter, more frequent breaks spaced throughout the school year. Even though this offers educational benefits, these facilities have less downtime for building maintenance. This can become an issue when facilities managers overlook the importance of routine HVAC maintenance and air duct cleaning services.

  • Planning with Clarity: Using AI to Make Better Campus Decisions, Not Just Better Designs

    Higher education leaders are being asked to make increasingly high-stakes decisions about campus facilities amid greater uncertainty than ever before. Social and economic pressures, shifting enrollment, and evolving learning models compete with growing deferred maintenance needs to strain even the most robust infrastructure budgets.