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

  • Indiana University Launches Capital Campus in D.C.

    Indiana University recently held a ribbon-cutting ceremony for the new IU Capital Campus in Washington, D.C., according to university news. The eight-story facility will provide a central hub for the university’s existing programs and business operations based in D.C., uniting them under one roof and providing the opportunity to expand.

  • University of Pennsylvania Releases Design of Future Physical Sciences Building

    The University of Pennsylvania (Penn) in Philadelphia, Penn., recently released renderings of an upcoming 350,000-square-foot Physical Sciences Building, according to news release. The facility was designed by CO Architects and will unite the university’s departments of Physics and Astronomy, Mathematics, and Earth and Environmental Science.

  • UCF Modernizes College of Hospitality Management

    The University of Central Florida in Orlando, Fla., recently completed a major renovation effort for the Rosen College of Hospitality Management, according to a news release. The project modernized 77,600 square feet worth of academic classrooms, teaching labs, and collaborative spaces to support both students and faculty.

  • Designing Third Spaces That Do What AI Can't

    In 2026, education is evolving faster than ever. With AI reshaping everything from lesson planning to personalized instruction, schools and universities are turning their attention to what AI can’t replicate: spaces that foster collaboration, community, and creativity.