Trustees of the Robstown Independent School District near Corpus Christi, Texas, thought they were asking voters last month for $13.5 million of general obligation bonds at the November election, but the ballot will only seek a $12.5 million authorization.
Official documents submitted to the Nueces County election department contained the lower, incorrect figure, Superintendent Osvaldo Romero said. The county said it would cost $15,000 to replace the printed ballots.
Romero said the district had initially considered a $12.5 million bond election to renovate a high school. Trustees voted Sept. 24 to seek a $13.5 million authorization after being told increased property valuations would support the additional debt without a tax increase.
However, the resolution that was passed did not reflect the increased amount. Romero said the project can be completed for the original price tag of $12.5 million.
The district's $36.5 million of outstanding GO debt has an underlying rating of A2 from Moody's Investors Service, enhanced to triple-A with coverage by the Texas Permanent School Fund.
