Trustees of the Tidehaven Independent School District last week voted to put a $50.5 million general obligation bond package to voters May 10.
The Texas district has not issued bonds since it was established in 1949 and does not levy a property tax for debt service. If the bonds are approved, the rate would be set at no more than $2.40 per $1,000 of assessed property.
Southwest Securities Inc. is the district’s financial advisor.
The district in Matagorda County will use the proceeds to build a consolidated campus for its high school and junior high, and replace two elementary schools.
The district has about 800 students at its four campuses.
Officials said the elementary schools are 76 years old. Consolidating the junior and senior highs into a single facility is less expensive than the extensive maintenance required by the current schools, the district said.
The new schools would open in fall 2014 if the bonds are approved.
