McAllen ISD Begins $335 Million Bond Program at Lower Interest Rate
· Texas Border Business
McAllen ISD is advancing its $335 million bond program following voter approval in May. The first phase of borrowing will provide up to $100 million for school modernization, safety improvements, and program expansions. The bonds, priced at 4.587% interest, are lower than the anticipated 5.05%, reducing costs for taxpayers. The funds will be repaid through the district's property tax collections without increasing the overall tax rate, which remains at $0.9322. The bond program includes allocations for various projects across schools, expected to be completed within five years. Moody’s Ratings affirmed the district's Aa2 credit rating.
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