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Board approves proposed I&S rate above minimum; cites Texas Tax Code and Education Code
Summary
The board voted to propose an interest & sinking rate of $0.32500 per $100 valuation—$0.0050 above the district's stated minimum of $0.3200—stating the increase will fund lawful debt service purposes; the motion passed unanimously.
The East Chambers ISD Board voted to propose an interest & sinking (I&S) tax rate of $0.32500 per $100 valuation, a level the minutes state exceeds the district's minimum debt service tax rate of $0.3200 by $0.0050.
"I move that East Chambers Independent School District approve the proposal of an interest and sinking (I&S) rate to pay debt service that exceeds the minimum debt service tax rate as defined by the Texas Tax Code and the Texas Education Code," Lisa Bauer moved; Charlotte Edwards seconded and the board approved the motion 7–0.
The minutes state the additional revenue generated by the proposed rate will be used for lawful debt service purposes, including establishment or maintenance of prudent debt service reserves. The motion text cites the Texas Tax Code and the Texas Education Code; the minutes do not include broader fiscal projections or taxpayer impact estimates in the recorded segments.
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