The Seguin Independent School District’s request for $97.5 million of general obligation bonds won the support last week of the Seguin Chamber of Commerce.
The city’s Realtors and the Hispanic Chamber had earlier endorsed the district’s bond proposal. Texas school district and municipal elections are set for May 14.
Shanta Kuhl, the president of the Seguin Chamber of Commerce, said a survey found that the school district’s request was favored by 82% of the members.
Sequin is located 35 miles east of San Antonio
The district would use the bond proceeds to build a new high school on the existing site.
Rene Ramos, the district’s chief operations officer, said the current high school campus is made up of 18 separate buildings, many of which were built in the 1950s.
School district officials said the new facility will provide additional space and equipment for classes such as health sciences, manufacturing, and other career paths. The proposed high school would also include sophisticated security systems. Passage of the bonds would require a tax increase of $131 a year for a $100,000 home.
The Seguin Independent School District’s $77.5 million of outstanding general obligation debt is rated Aa3 by Moody’s Investors Service and AA-minus by Standard & Poor’s.
The credit is enhanced to triple-A with coverage by the Texas Permanent School Fund.