Cuero school district voters OK $76M bond
Nov. 5, 2013 at 5:05 a.m.
Updated Nov. 6, 2013 at 5:06 a.m.
CUERO SCHOOL DISTRICT
100% of precincts reporting
Facilities in the Cuero school district have a bright future after voters approved a $76 million bond issue to build two new schools and an 80-seat fine arts center.
"We are appreciative and grateful that this need has been met," said Cuero Superintendent Jim Haley.
"I am excited for the opportunities our students will have and for the fulfillment of a dream come true for those who worked so hard on the fine arts facility."
The bonds, which will likely be financed over 25 years, will pay for construction of two new elementary schools; renovations at the intermediate, junior high and high school; a new gymnasium; band hall and expanded seating at Gobbler Stadium.
In addition, funding will now be available to install security, technology and energy conservation equipment throughout the district.
The tax rate to pay off the new debt will increase by about 33 cents from its current 6 cents to 39 cents per $100 valuation.
A property owner in the school district with a $100,000 home will see about a $330 annual increase in his or her tax bill at present values.
As property values continue to rise throughout the district because of oil and gas exploration, the tax rate will likely decrease, Haley said.
The performing arts center and classrooms at the junior high to reduce overcrowding are the projects to likely start first, said the superintendent.
"Location of the two elementary campuses will be a discussion that takes place soon," Haley said.
The superintendent said that other projects will be scheduled so as not to interfere with school activities.
"This is a once-in-history opportunity for our school and community," Haley said.
"Stewardship of these bond resources is close to everyone's heart and a prime concern for all involved.
"We want to do what is best for our students and what is right by our constituents and stakeholders."