The Fort Davis School District held a government meeting to provide updates on significant financial and capital projects. The meeting began with an informational update on the 2024 general obligation bond issuance, which successfully closed earlier today. This bond is part of a multi-step borrowing plan aimed at financing the Clifton Heights Middle School project, with additional bonds planned for issuance in 2025 and 2026.

The district's financial team detailed the bond issuance process, which included a credit rating interview with Moody's and a successful pricing and rate lock that resulted in a favorable interest rate of 3.705%. The total amount raised through this bond issuance was approximately $32.76 million, ultimately providing the district with over $35 million after accounting for premiums and costs. This funding will support the construction of Clifton Heights Middle School and the potential design of a new elementary school.

The meeting also featured a capital projects update presented by Marvin Lee, the district's director of operations. Lee highlighted the completion of over 80 projects during the summer of 2024, emphasizing the collaborative effort required from all levels of the district's administration and staff. He expressed gratitude for the teamwork that enabled the successful execution of these projects, which included various improvements to school facilities.

Overall, the meeting underscored the district's proactive approach to managing its finances and infrastructure, with plans for continued investment in educational facilities over the coming years.