Tyler ISD approves issuance of $198 million in bonds for high school renovations, moves forward with Rose Stadium renovation

Published on Thursday, 3 August 2017 16:47 - Written by

CORY MCCOY, comccoy@tylerpaper.com

The Tyler Independent School District Board of Trustees voted to authorize the issuance of bonds to replace its aging high schools.

The board unanimously agreed to allow Superintendent Marty Crawford and Chief Financial Officer Tosha Bjork to enter the market and issue $198 million in building bonds, which voters approved in the May 6, 2017 election.

Director of Facilities Tim Loper expects blueprints and building plans to be delivered by the end of the year, with construction work beginning in spring.

The district plans to utilize Dusty Traylor, of RBC Capital, to guide the bond process. Traylor also guided the 2013 bond sale.

Tyler ISD also will request they make a portion available to local investors. In 2013 more than $1.6 million worth of bonds were purchased by Tyler area entities and $7 million more by Texas entities.

  

In other business:

The board also set a date to set its tax rate and propose the 2017-18 budget. That meeting will take place on Aug. 21.

Superintendent Marty Crawford also said the district expects Chapter 41 spending, or the Robin Hood law, for 2017-18 is projected at $250,000. This money will be redistributed to other districts.

Phase II of the Christus Trinity Mother Frances Rose Stadium renovation is set to begin in November. The district will not host any playoff games this year in order to finish construction by August 2018. The renovations at the complex are not part of the bond package. The district is paying for the stadium work out of its general fund.

The second phase will see a renovation of the press box, parking areas and handicap accessibility.

Phase I saw the seating renovated, which is expected to be completed before the upcoming school year starts. Phase II will see improvements to ADA compliance, fencing, lighting and a renovation of the press box. 

Twitter: @TMT_Cory