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Weslaco ISD says $13M in bond interest earned; board to review allocations before projects proceed
Summary
Superintendent reported that the district’s recently passed $160M bond has generated about $13M in interest; the board directed staff to consult bond counsel and auditors and return with recommended allocations and accounting treatments before spending decisions.
Superintendent Rivera told trustees the district’s 2024 bond proceeds have generated roughly $13 million in interest earnings and that bond counsel and financial advisers will advise how that interest can be used across bond categories.
"We have got the money, $13,000,000 of the interest that's earned. We're meeting with the bond counsel and the financial adviser ... and then I'll go back to the board to show you how this money will be spent," Rivera said. Trustees asked staff to provide written legal guidance on allowable uses because bond interest is subject to restrictions.
Trustee Mark Delos Santos requested a running tally of bond balances and expenditures and asked that the administration publish project updates and progress photos for the public; Rivera said staff had presented project details in prior meetings and would provide refreshed summaries. The board did not take final action on any allocations at the meeting but supported further review with bond counsel and auditors.
