The Ore City Independent School District is negotiating the purchase of 18 acres of land for a new elementary school that would be built if voters pass an $8.5 million bond issue in May.
Currently, all schools in the East Texas district and the administration building are located on the same site. The proposed new elementary school would be built in a different location to relieve congestion at the existing facilities, superintendent Lynn Heflin said at a public meeting last week.
Ed Moore of the Southwest Securities office in Longview, the district’s financial adviser, said passage of the bond package would result in a property tax increase of either 15.2 or 39.8 cents per $100 of assessed valuation. He said the lower rate would be sufficient if the Texas Legislature renews the state’s existing debt allotment program, which it has done without fail since the program was established in the early 1990s.
