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El Campo ISD board approves 2025 bond sale, secures roughly $36 million for construction
Summary
At its July 23 meeting the El Campo Independent School District board authorized the issuance and sale of its 2025 unlimited tax school building bonds; competitive bids produced roughly $36 million in proceeds (including premium) to the district's project fund, with closing set for Aug. 12 and final review by the Texas Attorney General required.
At its July 23 regular meeting, the El Campo Independent School District Board of Trustees voted to authorize the issuance, sale and delivery of the district's unlimited tax school building bond series 2025, approving a competitive sale that district advisers said generated roughly $36 million in proceeds to fund construction projects approved in the 2025 bond program.
The board approved an order to issue bonds with the principal amount stated in meeting materials as $35,380,000. District financial adviser Louis Wilkes of US Capital Advisors told trustees that competitive bids produced premium proceeds that raised total available funds to about $36.0 million and that the district planned to close the transaction on Aug. 12. "We will close on August 12," Wilkes said.
Why this matters: the proceeds will be deposited to the district's project fund for the 2025 construction program the board discussed earlier in the meeting, including high school renovations and projects at Hutchins. Wilkes and bond counsel said the sale was executed with a favorable number of bidders and a strong credit profile,…
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