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.
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.
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."