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Caddo Parish plans $21.3M bond sale; board begins negotiations for career‑center site
Summary
Board advisers described a planned single $21.3 million bond sale (part of an $88.3 million program) with market interest estimates around 4–5 percent; staff also asked permission to begin price negotiations with Louisiana Tech for property to host a proposed $50–70 million Caddo Career and Technical Center.
Board finance advisers told the Caddo Parish School Board executive committee on Nov. 18 that the district plans a single issuance to sell roughly $21.3 million in general‑obligation bonds as the final series of an $88.3 million program approved by voters in 2019.
Lucius McGee, the board’s municipal adviser, said current market yields for 20‑year school bonds are roughly 4.25–4.5 percent and that the district could reasonably expect a coupon in the broad 4–5 percent range depending on the exact sale date. Counsel noted the 2019 voter proposition included a customary maximum rate of "not higher than 8 percent," but that recent sales have achieved much lower rates.
Board members questioned the timing and total interest cost; advisers estimated interest on the sale could be in the $11–12 million range over the life of the bonds, noting final numbers depend on pricing at sale. Staff said the sale would be executed in January with proceeds available in February and emphasized the district’s strong bond rating, which they said should help secure favorable rates.
Separately, the board discussed beginning formal negotiations to acquire property now owned by Louisiana Tech University that contains the current Caddo Virtual Academy site and adjacent frontage (including a parcel reportedly owned by the Greater Shreveport Chamber of Commerce). Staff asked for permission to initiate price negotiations to secure a consolidated campus for a new Caddo Career & Technology Center; administrators estimated preliminary construction costs in a $50–70 million range and reported about $40 million in reserves previously set aside for the project.
Superintendent Burton said the district aims to avoid new borrowing for the career‑center construction if possible and is also exploring temporary placement of CVA students at LSU Shreveport during design and construction. Board members asked for further detail on timing, financing, and how the district would keep existing millage rates from rising.
The committee placed the bond authorization and negotiation requests on the full‑board agenda for formal consideration; no final bond sale or property purchase was approved during the work session.
