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Brock ISD CFO: legislation and certified values remove need to restructure Series 2016 debt; tax rate set for September adoption
Summary
CFO Lance Rainey told trustees that proposed legislation and 2025 certified values mean Brock ISD "will have no need to restructure the Series 2016 debt;" the 2025–26 tax rate was released Aug. 5 and will be presented for adoption in September. The Board approved a budget amendment tied to the 89th Legislative Session.
Chief Financial Officer Lance Rainey reviewed a preliminary SAMCO Capital recommendation to restructure Series 2016 debt after concerns that a proposed increase in the Homestead Exemption could reduce revenue. Rainey reported that because of proposed legislation and increased 2025 certified property values, "there will be no need to restructure the Series 2016 debt," removing the immediate pressure to pursue restructuring.
Rainey also noted the BISD 2025–2026 tax rate was released Aug. 5 and will be presented to the Board for adoption at the September meeting. The Board approved an amendment to the 2025–2026 general operating budget to recognize additional revenue and expenditures resulting from the 89th Legislative Session; that motion carried 6-0.
