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Chapel Hill ISD board authorizes issuance of remaining $18.92 million in voter‑approved bonds
Summary
Trustees approved issuing the remaining $18,920,000 of a $113.92 million bond authorization voters approved in May 2023; SAMCO Capital Markets provided a briefing on timing and laddering of funds. Vote: 7-0.
The Chapel Hill ISD Board of Trustees voted unanimously Sept. 17 to authorize the issuance of the remaining $18,920,000 from the $113,920,000 bond authorization voters approved in May 2023. The board record notes the district completed the initial $95,000,000 issuance in fall 2023 and will ladder the remaining amount as project needs arise.
Brian Grubbs of SAMCO Capital Markets provided a brief presentation explaining the issuance process and timing. The board motion to approve the authorization was made by Trustee David Acker and seconded by Trustee Fred Elder Jr.; the vote was recorded as 7‑0 in favor. The bond program is intended to fund projects including a new Chapel Hill Junior High, additional classrooms at Wise and Jackson Elementary Schools, and a Career and Technical Education facility at Chapel Hill High School as described in the original 2023 authorization.
The board did not identify a specific issuance date in open session; the minute summary indicates the remaining funds are being held to be issued as project schedules and cashflow needs require. The board’s action allows district finance officers to proceed with the next steps in coordination with SAMCO.
