Clear Creek ISD authorizes conversion of 2013B variable-rate bonds and approves up to $162 million additional sale

At its May 19 meeting the Clear Creek Independent School District Board of Trustees approved two finance actions intended to manage debt and move forward with voter-authorized capital projects.

District staff explained that $47,400,000 of Series 2013B variable-rate unlimited tax school building bonds (maturing in 2035) are scheduled to reach the end of their rate period on Aug. 14, 2025. Staff recommended an order to convert those bonds to either a fixed-rate period or a new term-rate period for the remaining term; the board approved an order authorizing the conversion and empowered a pricing officer to take actions related to the conversion and to authorize a remarketing memorandum.

Separately, staff summarized the 2023 voter authorization of $302,000,000 in school building bonds and noted the district’s first 2024 sale generated $140,000,000 in capital (including $117,000,000 for Proposition B items and $23,000,000 for Proposition C technology items). The board approved a second-sale authorization for up to $162,000,000 from the remaining voter authorization and granted parameters and pricing authority for that sale. Financial adviser Daryl Palmer and bond counsel Tanya were introduced during the discussion.

Board motions for both items were made in public session (Mister McKay moved the conversion order; Miss Cecco moved the bond issuance authorization). In each case the chair called for raised-hand votes and announced passage; the public record does not include individual roll-call tallies. The conversion order will affect debt service strategy and the authorization enables the district to fund remaining capital projects approved by voters in 2023.