Kilgore Independent School District voters will decide May 14 on a $55 million general obligation bond package to replace and rehabilitate aging facilities.
The district said it would use the proceeds to build two replacement schools and renovate several others.
Superintendent Jody Clements said most of the district’s facilities were built in the 1930s and 1940s.
“We have spent about a year working on [the bond package], and we are ready to go ahead with it,” he said. “We’ll leave it to the taxpayers.”
District voters last approved a school bond proposal in 1993. Kilgore ISD’s $12.3 million of outstanding debt is rated A2 by Moody’s Investors Service, but has triple-A coverage from the Texas Permanent School Fund.
The district’s overall tax rate is $1.11 per $100 of taxable assessed value. If the bonds are approved, the rate could go up by 20 cents per $100, Clements said.
The city of Kilgore is 90 miles east of Dallas.
