Last month, Dallas ISD sold the last of the bonds from the 2015 voter-approved bond program, resulting in an interest cost $93.5 million lower than originally projected.
The district completed the sale of $299.2 million in bonds Jan. 20, according to The Hub.
Rather than a 3.75% interest rate amortized over 30 years, DISD was given a rate of 1.64% amortized over 24 years.
“This is a big win for Dallas ISD,” says Dwayne Thompson, the chief business officer, in the Hub article. “The savings from projections of the final 2015 bonds will provide the district the opportunity to pay off outstanding debt more quickly, saving even more interest.”
The district is projecting higher estimates on interest rates and lower property value increases for the 2020 bond sales, a $3.7 billion bond program, suggesting the program can be funded without raising taxes.
