Allen ISD would borrow up to another $100 million from its 2024 bond package under an order the Board of Trustees is scheduled to consider Monday, Oct. 26.
Voters approved $442,140,046 in bonds on Nov. 5, 2024, split between $419,062,253 for buildings, safety and security, buses and a new multipurpose fine arts and athletics facility, and $23,077,793 for instructional technology. The district has already issued $220 million of that total, according to the order: $217.5 million from the buildings proposition and $2.5 million from the technology proposition, sold as the Series 2025 bonds.
How the sale would work
The order does not set a sale date. It names the superintendent and the chief financial officer as pricing officers and lets them take the bonds to market when conditions fit, within limits the board sets. Under those limits, no more than $100 million can be issued, no bond can mature after Feb. 15, 2051, and the true interest cost cannot exceed 6%.
The authority expires if it is not used within 12 months of the board's vote.
Administrators recommend approval. Jeff Robert of Hilltop Securities, the district's financial adviser, is listed to answer trustees' questions.
The bonds are repaid with property taxes. A taxpayer impact statement printed with the agenda estimates the district tax bill on a median-valued homestead at $4,076.31 this year, based on a value of $369,332 and the adopted rate of $1.1037 per $100. Last year's estimate was $4,122.46.
Trustees are also set to approve the certified 2026 tax roll, which values the district at $24,404,502,030 and shows a levy of about $256.4 million.
