Rockwall ISD trustees approve refunding bonds, adopt 2025–26 budget and clear property, easement and purchasing items

The Rockwall Independent School District Board of Trustees on June 16, 2025 approved a parameter order allowing issuance of unlimited-tax refunding bonds, adopted the district’s 2025–26 operating budget and approved several property and procurement actions, Board President Frank Constable said during the regular meeting.

The approvals come as the district’s finance staff and outside advisors are pursuing a refinancing that officials say would buy targeted savings in early years to lower the interest and sinking (I&S) tax rate. Jeff Robert of Hilltop Securities told trustees “we potentially have a, a refinancing or what we call refunding opportunity,” and said the model would prioritize savings in the first three years to reduce the I&S tax rate. District staff and bond counsel presented a parameter bond order under state law that sets limits including a maximum principal of $74,000,000, a maximum true interest cost (TIC) of 4.5 percent and a final maturity of 2038; the presentation showed estimated present-value savings of about 1.9 percent under current market assumptions. The board approved the motion to proceed; the motion was made and seconded as recorded in the meeting transcript and the item was approved (vote tally not specified in transcript).

Why it matters: the refinancing is intended to lower the district’s debt-service tax rate in the near term while leaving long-term maturities unchanged; the board also delegated final pricing to district officials within the approved parameters so the transaction can move forward if market conditions meet the board’s requirements.

Also on finance, the board adopted the 2025–26 fiscal-year annual operating budget for the general fund, child nutrition fund and debt service fund. Chief Financial Officer (presentation) Mr. Carter told trustees the budget before them is being adopted on current law and…