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Weslaco ISD superintendent outlines district finances, bond projects and future planning
Summary
Superintendent Dr. Richard Rivera presented the district's tax rates, remaining bond and loan balances, proposed capital projects from the 2024 bond and fund-balance projects, and a three-phase visioning process for future school facilities.
Dr. Richard Rivera, superintendent of Weslaco ISD, told the board on Feb. 20 that the district's total tax rate is 0.9481 and reviewed remaining balances on past bonds and loans while previewing capital projects from the 2024 bond and additional projects funded from the district's fund balance.
Rivera said the district's 2024 bond election totaled $160,000,000 and said the district plans to refinance some issues when market interest rates fall. "Our goal here is student success," Rivera said while presenting enrollment, staffing and finance slides.
The superintendent listed several older bond issues and remaining balances as part of the historical context presented to the board, and summarized district loans taken for HVAC, vehicles, fencing and roofing. Rivera said the 2017 loan was for $15,000,000 with an outstanding balance shown in the presentation, and noted a 2019 loan for a stadium scoreboard of about…
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