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Bastrop ISD authorizes sale of remaining $89.4 million in 2023 bond program; district expects no I&S tax-rate increase
Summary
Trustees adopted a parameters order authorizing the district to sell up to $89,399,000 of the remaining 2023 voter-approved bonds, aiming to close in August to qualify for additional state hold‑harmless funding. Financial advisor BOK Securities outlined timing, assumed interest rates and use of reserves.
The Bastrop Independent School District Board of Trustees on June 17 approved an order authorizing the sale of up to $89,399,000 of remaining authorization from the district’s 2023 bond program.
Josh McLaughlin of BOK Financial Securities presented the financing plan and timetable. McLaughlin said the district sold a prior series totaling $232 million in 2023 and this authorization would sell the remaining roughly $89.4 million. He told trustees the district can sell the bonds and remain within the district’s existing interest-and-sinking (I&S) tax rate of $0.401, so bond sales would not raise that tax rate. McLaughlin…
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