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Board books $60 million bond sale into construction fund, raising project total to $160 million
Summary
Trustees approved a technical budget transaction to move proceeds from a recent $60 million bond sale into the district's construction line item and heard a construction update on Oak Crest and other sites.
The East Central ISD Board of Trustees approved a budget amendment to record the proceeds of a recent bond sale and move $60,000,000 into the district's facility-construction line item, bringing that account to $160,000,000 for the 2022 bond program.
Why it matters: Trustees were told the district successfully sold the remaining $60 million of the 2022 bond authorization on Feb. 12 at interest rates lower than projected. Recording the sale in the construction budget authorizes spending to continue work on bond projects, including Oak Crest and the transportation facility.
During the meeting, construction staff provided a project update for Oak Crest and other campuses. The Oak Crest site showed progress on piers and building pad work; staff said cold temperatures had temporarily affected concrete pours and that permitting for the transportation facility is progressing through City of San Antonio and Bexar County review.
Trustee Miss Briesenhauer moved the motion to approve the construction budget amendment and Trustee Mister Santos seconded. The motion passed by voice vote.
Next steps: With the funds recorded, district construction and facilities teams will proceed with scheduled work and permitting steps. Staff said more detailed project timelines and permitting milestones are available in the written construction update provided to trustees.
