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

  • A digital silhouette works at a computer, immersed in a glowing, interconnected world

    How Will AI Transform Learning Space Design?

    For years, higher education has designed learning spaces around technology as a tool for display, capture, collaboration, and connectivity. AI changes that equation.

  • Stanford Online Reveals New Immersive Learning Studio

    Stanford Online recently marked its 30th anniversary with the announcement of a new immersive learning studio, according to a university news release. The studio takes advantage of AI-powered and immersive learning technologies to continue delivering personalized and faculty-led education.

  • Cal Poly Humboldt Starts Construction on Healthcare Education Hub

    California State Polytechnic University, Humboldt in Arcata, Calif., recently announced that work has begun on a renovation project that will turn the Stewart Building into a new Healthcare Education Hub, according to a news release. The university is partnering with Sundt Construction Inc. for construction services.

  • Designing for Every Mind

    Learning environments have the power to shape not just what students know, but who they become. When a school is designed with genuine empathy—for the full range of ways students think, sense, and engage with the world—it becomes more than a building. It becomes a catalyst for growth, confidence, and belonging. That is the animating idea behind neurodiverse design, and it is one that is transforming how more architects and designers are thinking about school design.