DALLAS — Sabine Independent School District in east Texas is building its first new elementary school since 1932 with proceeds from $19.8 million of general obligation bonds approved by voters in May.
The Gregg County district about 10 miles west of Longview expects to have the school open by the start of next school year.
The bonds were approved in May with 1,039 in favor and 543 opposed.
The new school will include a library, classrooms for science and computer classes, a cafeteria and kitchen, and a music room. It will accommodate up to 740 students.
Approval of the bonds required an increase in the Sabine district's debt service rate to 28 cents per $100 of assessed valuation, up from zero. The district had no debt after the bonds issued to build its high school matured in fiscal 2007.
The school is being built on 12 of the 54 acres of land the district owns in Liberty City.
Trustees bought the 54 acres for a school site in 2009 with $817,000 from the district's general fund after voters rejected a similar bond proposal. Officials said paying cash for the land would reduce the price of a future bond issue.
Sabine Independent School District is rated A-plus by Standard & Poor's. The credit is enhanced to triple-A with coverage by the state Permanent School Fund.
