Archive → August, 2014
Proposed Middle School #6 Location
Here’s the scoop on the $59.1 million bond election that passed in May of this year.
At the August 28th Board meeting, we will vote on the proposed Dacy Lane location, next to the food service/warehouse building. We had another location in the Sunfield development, but we were not able to come to an agreement with them.
In addition, the district has also achieved a cost savings with the bond package. Initial repayment of the bonds was estimated to cost $96,903,823, including principal and interest. However, we were able to sell the bonds with an actual total repayment cost of $89,243,027, – a savings of $7,660,796. Deputy Superintendent Carter Scherff said, ““By moving up the bond’s starting repayment date six months early to February 2015, we reduced interest costs by approximately $900,000. Better than anticipated market rates achieved the additional savings over the life of the bonds.”
The largest project in this bond series is the sixth middle school for Hays CISD. The bond will also allow for improved security at campuses, expanded wireless technology capacity, added Career and Technical Education (CTE) programs, renovations of older facilities, and additional school buses.
The proposed tax rate to repay the bonds is expected to stay the same as projected in the bond proposition approved by voters, resulting in a total district tax rate in 2014-2015 for both debt payment and operations of $1.5377 per $100 of assessed property.
The Board of Trustees will vote on the 2014-2015 tax rate at its regular meeting on August 28th.
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