Houston Independent School District officials unveiled a massive $4.4 billion bond proposal for the November ballot that would address aging facilities, update technology, and improve security without increasing taxes.
The plan, presented to the district's Community Advisory Committee on Thursday, will be heading soon to the school board for a final vote on holding a bond election, according to a district spokesman.
Nearly 32% of Houston ISD schools are more than 50 years old and 65 are projected to exceed capacity by 2030, according to the presentation, which called for $2.05 billion of bonds to rebuild, renovate, or expand schools. Another $1.35 billion of bonds would be earmarked for safety and health improvements, including security upgrades such as fencing and single points of entry, as well as classroom air purifiers and heating and cooling systems. Expanded pre-kindergarten and technology would be funded with $1 billion of bonds.
The district's last trip to the ballot was in November 2012 when voters approved $1.89 billion of bonds to replace and repair 40 schools. Prior to that it received bond authorization totaling $2.29 billion from elections in 1998, 2002, and 2007. It currently has no authorized but unused debt capacity.
The general obligation bonds have underlying ratings of Aaa from Moody's Ratings and AA-plus from S&P Global Ratings and carry triple-A ratings from the Texas Permanent School Fund's bond guarantee program.
As of June 30, 2023, Houston ISD had $2.12 billion of outstanding GO and lease revenue bonds, and maintenance tax notes issued between November 2009 and March 2023, according to the district's Fiscal 2023
Texas' largest public school system is run by a
Ballots in the Lone Star State have been
The last Texas school district with a
A barrage of school bond issuance last year helped make
