Voters in the Tyler, Texas, Independent School District could go to the polls in November to decide on a general obligation bond package to begin the first phase of a major capital improvement plan.
Trustees in the east Texas district, which serves the city of Tyler, must adopt an election ordinance by Aug. 19 to get the referendum on the Nov. 6 ballot.
The comprehensive plan calls for two new high schools by 2020 and major renovations to existing campuses. The total cost of the effort is estimated at $200 million.
Superintendent Randy Reid said the district could issue up to $150 million of new debt without raising the property tax rate of $1.375 per $100 of assessed value.
The district's outstanding debt is rated AA by Standard and Poor's and AA-plus by Fitch Ratings. The debt is enhanced to triple-A with coverage from the Texas Permanent School Fund.
