College Station ISD school board members at their May regular meeting, approved moving ahead with the first of several rounds of selling bonds that were approved by voters last month and last November.
Voters approved in the two bond issues, financing more than $352 million dollars of projects. The first bond sale, for $53 million, is scheduled for sometime in June.
Superintendent Tim Harkrider and chief financial officer Amy Drozd answered board questions about breaking up the bond sales during the next two to four years as opposed to one sale for the entire amount.
Drozd said they have learned from the district’s consulting architect what the cash flow needs are during the next 12 to 18 months, so that the district is not sitting on bond revenue and having to pay interest. Harkrider added there is also an impact on the property tax rate.
The district’s bond counsel, Jeff Gulbas, says interest rates have dropped over the last six months.
Board members also approved amending a contract with its current outside architect to also be in charge of the projects approved by voters in May 2024.
Click below to hear comments from the May 21, 2024 College Station ISD board meeting.