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WACO ISD reviews options for $32.2 million in proceeds from Indian Spring sale
Summary
Chief Operations Officer Jerry Allen presented options for allocating $32.2 million from the sale of Indian Spring Middle School and remaining bond funds, emphasizing possible capital priorities and alignment with district needs; trustees discussed follow-up but made no final allocation at the workshop.
Chief Operations Officer Jerry Allen reviewed options for using $32.2 million in proceeds from the sale of Indian Spring Middle School along with remaining bond funds. "Jerry Allen, Chief Operations Officer reviewed and discussed options for use of the $32.2 million in proceeds from the sale of Indian Spring Middle School, along with remaining bond funds."
Allen's presentation outlined considerations including potential allocations, financial priorities and alignment with district needs; trustees asked questions about priorities and asked staff to return with more detailed proposals. No appropriation or final decision was made at the workshop; the discussion focused on options and next steps.
Trustees signaled interest in ensuring any proposed allocations align with the district's capital plan and bond covenants; staff follow-up with specific allocation scenarios and timelines was discussed as the next step.
