A fast-growing school district in San Antonio will take a $92 million general obligation bond request to voters May 11.
The authorization sought by trustees of the Schertz-Cibolo-Universal City Independent School District would finance construction of a new elementary school and add capacity at two existing schools.
The district, which services portions of the Bexar and Guadalupe counties, has not had a bond election since 2006. Current enrollment is 13,500 students but it is expected to reach more than 18,000 within 10 years.
Projects include a $34 million elementary school and $35 million of renovations and expansions at a high school and middle school. The district also is seeking $8 million for land acquisition and $3 million for new buses.
Approval of the bonds would require a three-cent increase in the district’s current property-tax rate of $1.46 per $100 of assessed valuation.
The district’s $238 million of outstanding debt has an underlying rating of Aa3 from Moody’s Investors Service. The debt is enhanced to triple-A with coverage by the Texas Permanent School Fund.
