2015 Bond Information
The bond proposal was approved by HPISD voters on Nov. 3, 2015, by a margin of 55-45 percent. More than 8,200 votes were cast - more than three times the total in the most recent HPISD bond election held in 2008.
Below are links to view documents and information regarding the 2015 bond election.
Documents:
Announcements:
Highland Park ISD sold $225 million in bonds today at an interest cost much lower than initially projected. The District was able to take advantage of historically low-interest rates and an Aaa rating backed by the Permanent School Fund in order to sell bonds at 2.95%, an interest rate that is significantly lower than was expected prior to the 2015 bond election this past fall. Initial projections were made at 4.50%. Bank of America Merrill Lynch had the lowest bid among seven financial firms that submitted offers.
As a result, taxes are projected to increase by approximately $910 per year (based on a home with a market value of $1 million) and could decrease further based on the results of the remaining bond sale that is part of the 2015 bond program. Initial tax increase projections ranged from $900-$1,384 when the election was held.
Click here to read the full article.
HPISD saves $7.2 million by refinancing 2008 bonds - Dec. 14, 2015
After considerable input from the district's Finance Committee and closely monitoring the bond market for more than a year, the Highland Park Independent School District selected Tuesday, Dec. 1 to refinance $53 million of its remaining bonds from the 2008 bond election.
The net savings to taxpayers over the life of the bonds will be more than $7.2 million, more than what was initially projected.
"This is outstanding news for HPISD taxpayers," said HPISD Superintendent Dr. Tom Trigg. "There are a lot of very bright people who guided us in selecting the optimal time to refinance the 2008 bonds. That counsel was vital to our success."