The North East Independent School District in San Antonio will ask voters to approve a bond package on May 14 that could total $400 million.
Trustees unanimously approved the election date, but did not determine the size.
The school board has until March 7 to decide on what projects will be financed with the bond proceeds. Trustees are expected to discuss the amount at a meeting this week.
District voters have approved four bond proposals totaling $1.5 billion since 1995. School officials said if a $400 million proposal is approved, the district likely would not seek another bond vote for at least five years.
A committee of district employees and residents developed a $400 million list of bond projects.
The list includes construction of a middle school for $65 million, additional classrooms and upgraded athletic facilities at a high school for $48 million, and reconstruction of an existing middle school for $25 million.
Voter approval of a $400 million bond package would increase the property tax on an average $162,000 home by $144 a year.
The North East district’s $1.3 billion of outstanding general obligation debt carries ratings of Aa1 by Moody’s Investors Service and AA-minus by Standard & Poor’s.
The school’s ratings are enhanced to triple-A by the Texas Permanent School Fund.
