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SAISD reports bond deposits, early payment and extends warehouse lease while projects begin
Summary
District officials said bond proceeds from the 2025 issuance were deposited into multiple accounts and the district made an early bond payment on Aug. 15; trustees approved a five-year warehouse lease (terminable on 30 days) to store materials during construction and committed fund balance items for capital purchases.
San Angelo ISD administrators told trustees Tuesday that the district’s $397 million bond proceeds have been deposited across multiple accounts and the district made its first bond payment on Aug. 15. The administration described the deposits as complete and said the funds are now available to support bond projects.
Why it matters: The bond proceeds will fund campus construction and upgrades approved by voters; early payment timing reduced debt service costs for taxpayers, according to administration. The board also approved an amended warehouse lease to…
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