McAllen ISD Begins $335 Million Bond Program at Lower Interest Rate
· Texas Border Business
McAllen ISD is launching a $335 million bond program following voter approval in May. The first phase of borrowing, set to close on September 8, will provide up to $100 million for various school projects, including modernization and safety improvements. The bonds were priced at an interest rate of 4.587%, lower than the anticipated 5.05%, which will reduce costs for taxpayers. The program will not increase the district's property tax rate, remaining at $0.9322. Over the next three to four years, the district will implement the bond in four phases to align with project needs.
AI summary · Source: Texas Border Business →
