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Laredo ISD reallocates disaster set‑aside to finish Sigueroa High literacy center; board approves GMP and budget amendments
Summary
The Laredo ISD Board of Trustees voted June 25 to reassign an $8 million Hurricane Hannah disaster set‑aside and approve budget amendments and a $33.54 million guaranteed maximum price (GMP) to advance the Dr. Leonidas G. Sigueroa High School Literacy Center phases 2 and 2.5, while staff outlined reimbursement and bond‑funding plans.
The Laredo Independent School District Board of Trustees voted June 25 to reallocate an $8,000,000 disaster reserve set aside after Hurricane Hannah to support construction of the Dr. Leonidas G. Sigueroa High School Literacy Center phases 2 and 2.5, approving related budget amendments and a guaranteed maximum price for construction.
Doctor Rios introduced the item and said the $8 million had been held following a disaster resolution tied to Hurricane Hannah and placed in a committed fund balance (set aside when fiscal year 2022 closed). Facilities staff and finance staff presented the current funding picture: project documents show a guaranteed maximum price of $33,540,000 for the three phases and staff identified an additional funding need of about $22,559,000 beyond remaining bond balances. "We're looking at a GMP of $33,540,000," Mister Velasquez told trustees during the presentation.
Finance staff explained the district had roughly $14,000,000 available from prior bonds and that the $8,000,000…
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