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McAllen ISD advisers say $335 million bond could be sold without raising tax rate
Summary
Financial advisers told McAllen ISD's facilities advisory committee that roughly $335 million in bond funding could cover priority campus projects without increasing the district tax rate, but warned the ballot language will still appear as a 'tax increase' and voter education will be essential.
Miss Lorena Garcia, deputy superintendent, opened the Facilities Forecast Advisory Committee meeting and turned finance questions to the district's outside financial adviser.
"We've calculated that $335,000,000 can address the projects mentioned by Lorena, with no tax rate increase," said Bobby Villarreal, who identified himself as with Strad and Hossa, describing a plan to sell the bonds in multiple tranches to limit tax-rate impact and stage construction over several years.
The advisers explained the mechanics behind that assertion: paying down existing debt, shifts between maintenance-and-operations (M&O) and interest-and-sinking (I&S) revenue, and rising taxable values can create…
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