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Academy ISD approves GMP Bond Sale #3 with A+ rating; no I&S increase
Academy Independent School District Board of Trustees · August 28, 2024
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Summary
Trustees approved GMP Bond Sale #3, noted an A+ district bond rating, and confirmed the sale will not increase the I&S tax rate.
Jennifer Ridder presented details of GMP Bond Sale #3 to the board, including the district’s A+ bond rating and a statement that the sale would not increase the interest-and-sinking tax rate. The board voted unanimously to approve the bond sale.
Trustees said the A+ rating reflects the district’s financial profile and that the sale is structured so that debt service needs will not raise the I&S tax rate. Motion to approve was made by Jason Lambert and seconded by Dana White; vote was unanimous.
