DALLAS - Frisco Independent School District in the northern suburbs of Dallas is considering a $758 million bond issue to build 14 schools.
The district's board is considering the package proposed by an advisory committee and is expected to make a decision on the size of the issue Feb. 10 ahead of an election scheduled for May 10.
As one of the fastest-growing school districts in the nation, Frisco ISD is expected to enroll 66,000 students by 2020, an 86% increase from the current 46,300.
The bond proposal would be slightly smaller than a $798 million package approved by voters in 2006.
Frisco ISD carries underlying ratings of AA-plus from Standard & Poor's, Aa3 from Moody's Investors Service and AA-minus from Fitch Ratings, all with stable outlooks. The district's debt earns triple-A ratings with a guarantee from the Texas Permanent School Fund.
About 25 miles north of downtown Dallas, Frisco ISD covers 72 square miles in western Collin County and eastern Denton County. The district's population has grown 323% since the 2000 U.S. Census to an estimated 163,000 residents.
The district's tax base grew at a 15.4% average annual rate between fiscal years 2005 and 2010, reaching $17.2 billion in fiscal 2010. Due to the national economic downturn, new construction slowed dramatically and existing commercial property values were weakened, resulting in a 1.8% decline to $16.9 billion in fiscal 2011.
Significant new single family and commercial construction are expected to continue expanding the tax base in the future, according to Moody's.
