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Spearman ISD board approves $4.475 million school building bond
Summary
The Spearman ISD Board of Trustees voted 6-0 to authorize issuance of Unlimited Tax School Building Bonds, Series 2025, in the estimated principal amount of $4,475,000 and to levy an ad valorem tax to pay the bonds.
The Spearman Independent School District Board of Trustees voted to adopt an order authorizing the issuance, sale and delivery of Unlimited Tax School Building Bonds, Series 2025, in the estimated principal amount of $4,475,000. The motion to adopt the order was made by Scott Sonnenberg and seconded by Mike Pearson; the motion carried 6-0.
Board members were presented with the order that also authorizes levying an ad valorem tax to pay debt service on the bonds. The action appears as a formal order on the July 29 agenda; the board’s approval completes the district’s local step before sale and delivery. The superintendent previously reported that a new account had been opened for bond funds as part of preparatory work tied to this issuance. The board set no additional conditions in the public motion and the record shows unanimous approval.
