SMCISD Board Approves Second Bond Sale
This is the second bond sale from the 2017 election. The initial sale took place in July and August of 2017; the school district sold a bond of $50 million.
by, Terra Rivers, Managing Editor
On Monday, the San Marcos Consolidated Independent School District Board of Trustees approved the bond sale for the second round of its 2017 bond election.
SMCISD’s financial advisor, Robert Tijerina, gave a presentation to Trustees over the issuance of $57.3 million in bonds; the money will be used to fund construction and equipment projects.
This is the second bond sale from the 2017 election. The initial sale took place in July and August of 2017; the school district sold a bond of $50 million. The total bond approved by voters in May 2017 was for $107.3 million at the current tax rate.
According to Tijerina, district staff and the board have been working to lower the tax rate in a year from now. The current tax rate is $0.3541; next year, the district will have the opportunity to lower the tax rate to $0.3124 for 2020.
In other news, the district also received information on a proposed security fence for the San Marcos High School campus.
According to the Director of Facilities, Jay Wesson, SMCISD is looking at ways to improve security and help students feel secure on campus.
The cost of the fence is projected to be about $55,000; it will have two electric gates, which will slide open, and a swinging gate.
The approval of funding for the item will be voted on at a later date if plans move forward.
