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Goliad ISD adopts resolution and ratifies promissory note to front bond payments
Summary
Trustees unanimously adopted a resolution and ratified a promissory note to advance bond payments following an under‑collection of 2023 taxes tied to a tax-rate miscalculation; district staff plan an aggressive tax-rate strategy to replenish bond proceeds by August 2026.
The Goliad ISD Board of Trustees voted Aug. 19 to adopt a resolution and ratify a promissory note to transfer funds interfund and advance bond payments after the district experienced an under‑collection of 2023 taxes related to a rate miscalculation.
Superintendent Holly Lyon said district counsel and bond counsel were consulted and that the district worked with external advisers — including Live Oak Financial, Region 3 representatives and the county tax assessor — to craft a repayment plan. Lyon described a proposed "aggressive tax rate strategy" that would aim to replenish the bond proceeds fund by August 2026 and cited an estimated total tax-rate increase of about ten cents as part of that strategy.
Jason Howard moved to adopt the resolution and ratify the promissory note; Sheila Edwards seconded the motion. The motion carried 6-0 with one absence.
The board directed staff to finalize calculations with financial and legal advisers and prepare the tax-rate item for the September meeting where the official rate will be adopted.
