Prosper ISD trustees on Monday voted to authorize a $250 million issuance of unlimited-tax school bonds, approved a reimbursement resolution to allow reimbursement of project-related technology purchases from future bond proceeds and awarded renovation contracts for several campuses.

The board meeting, chaired by Bill Beavers, adopted an order authorizing the bond issuance after a presentation from district finance staff and outside consultants. The board voted unanimously to approve the bond order and to adopt a resolution expressing official intent to reimburse certain project costs from future bond proceeds. Trustees also voted to award construction contracts for renovation work at six campuses and approved other routine business on the consent agenda.

Why it matters: The bond authorization keeps the district on schedule to fund facilities projects tied to the 2019 and 2023 bond programs, while the reimbursement resolution lets the district buy and later reimburse short‑lived technology purchases from bond proceeds rather than issue long-term debt for technology. The construction awards advance planned roof, HVAC, lighting and finish upgrades at multiple campuses.

During the bond presentation, a district financial presenter noted that interest rates have begun to ease in recent months and recommended issuing $250 million this cycle to keep the district’s construction schedule on track. The presenter said the issuance is the next installment tied to the 2019 bond election Proposition A and does not include a technology allocation at this time. The board’s memo and presentation cited taxable‑value figures the district is using to model repayment: Prosper ISD’s certified taxable value for 2025–26 was presented as about $24.7 billion, and the presenter said the district began the year with a roughly $29 million budget deficit the administration is addressing through a combination of measures, including pausing some openings and timing of projects.

Motions and outcomes
- Bond authorization (Agenda item 10a): Trustee Teresa Dixon moved that the board “adopt an order authorizing the issuance of unlimited tax bonds, establishing sale parameters, authorizing the execution of a bond purchase agreement, approving an official statement and enacting other provisions related to the subject.” Trustee Jeff Cavender seconded. The motion passed unanimously (7–0).

- Reimbursement resolution (Agenda item 10b): Trustee Webb moved and Trustee Van Wolf seconded a resolution expressing official intent to reimburse project costs. The motion passed unanimously (7–0).

- Renovation contract awards (Agenda item 10c): The board voted to award renovation projects for Rucker, Folsom, Baker, Cockrell and Light Farms elementaries and for Prosper High School to Poe Construction (the motion and award paperwork listed Poe Construction). Trustee Van Wolf moved the award; Trustee Dixon seconded. The final vote recorded five in favor, one opposed and one abstention; the motion passed.

- Consent agenda and hiring (Consent agenda and Agenda item 12a): Trustees approved the consent agenda by voice vote (7–0). After a closed session, the board approved hiring of contract personnel as presented by administration (motion passed 7–0).

Financial context and technical notes
District and advisors presented the board with background figures the board used to authorize the issuance: taxable‑value growth, I&S (interest and sinking) fund balance (presented as roughly $21.5 million in August 2025), and a plan to issue $250 million in December 2025 with additional planned issuances later (the presentation noted a planned $150 million issuance in mid‑2026). The presenter also described targeted refundings of older maturities from 2015–2016 bonds to capture roughly $2 million in interest savings, and said the district would “cherry‑pick” maturities that produce at least about 3% present‑value savings. The presenter emphasized the district’s AA credit rating and investor interest in Prosper ISD paper.

On technology, the board adopted a reimbursement resolution that the administration said is a common federal‑tax requirement: the district will temporarily fund some technology purchases from the general fund and then reimburse that spending from bond proceeds later, rather than amortize technology on 30‑year bonds.

Construction awards: administration described the renovation work as roofs, HVAC replacement, lighting upgrades and interior finishes. The district said the projects are expected to begin over the next five years depending on bond proceeds and scheduling; administration told trustees the procurement drew a larger than usual field of bidders.

What’s next: The bond sale and closing timeline discussed in the presentation targeted marketing in December 2025 and closing in January 2026. The district will proceed with project procurement and the administration will return to the board with additional details and final contracts where required.

Trustee and consultant comments
During the meeting, the district’s presenter acknowledged the pace of growth and commended trustees and staff for maintaining financial integrity during rapid expansion. After the bond motion passed, the presenting consultant said: “As y’all well know, I’m not a salesperson. I’m a finance guy. I want to make sure that everything is good,” and praised the district’s management of fast growth.

Board decisions at a glance
(See above “Motions and outcomes” for each recorded vote.)

Sources and limitations
This article is based on the Prosper ISD Board of Trustees public meeting on Oct. 20, 2025. Motion text and vote outcomes are taken from the meeting transcript and public motions recorded during the meeting. Specific dollar figures (for example, the district’s certified taxable value, I&S balance and refunding savings) were presented at the meeting; where the transcript provided rounded or context numbers, the article reports those as presented by the district.

Ending: The board completed remaining business and adjourned after approving the hiring items and other routine matters.