Harlingen ISD selects Robert Baird for $18 million bond at 3.62 percent interest

The Harlingen Consolidated Independent School District (HCISD) held a special board meeting on February 25, 2025, to discuss the results of a recent bond bid process. The meeting began with financial advisor Estrella Hinojosa presenting the bids received for financing a construction project. A total of eight bids were submitted, with interest rates ranging from 3.62082% to 4.104613%. The board recommended accepting the bid from Robert W. Baird and Company Incorporated, which offered the lowest true interest cost of 3.62%.

Hinojosa praised the transparency of the bidding process, noting that the number of bids received indicated strong confidence from the investment community in HCISD's financial management. He highlighted that the current bid represented a savings of approximately $300,000 compared to a previous bid received in December.

During the discussion, board members expressed their satisfaction with the decision to wait for a more favorable bidding environment. Questions were raised regarding the wide range of interest rates among the bids, with Hinojosa explaining that such variations are not uncommon in bond deals. He emphasized the importance of presenting a strong financial profile to potential investors, which contributed to the competitive rates received.

The board confirmed that the bid from Robert W. Baird would be locked in until the closing date of March 26, 2025. A motion to approve the resolution was made by Dr. Pettis and seconded by Dr. Munoz, with no further discussion required before the vote.

In conclusion, the meeting underscored HCISD's commitment to fiscal responsibility and transparency, as well as the successful outcome of the bond bidding process, which is expected to benefit the district's future construction projects.