Trustees of Tyler Independent School District last week declined to call a general obligation bond election for November after discussing a proposal for several weeks.
District officials said more time is needed to develop a comprehensive program for the first phase of its capital improvement effort.
Trustees in the district located 90 miles east of Dallas have adopted a long-range capital facilities plan that includes two replacement high schools and 10 new schools.
District officials said up to $150 million of new debt could be issued without raising the property tax rate of $1.375 per $100 of assessed value.
A $90 million GO bond request by the district was rejected in November 2010 by 71 votes.
Tyler Independent School 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.
