ECISD ready to sell last round of 2023 bonds worth $128 million

The Ector County ISD Board of Trustees held its August Workshop on the 12th. A recap of the agenda is below.

1.      Roll Call. Dr. Steve Brown was absent.

 

2.      Verification of compliance with open meetings requirements.

 

3.      In opening comments, Superintendent Dr. Keeley Boyer gave Trustees a quick look at the first day of school through this video from the ECISD Communications team.

 

4.      Welcome by a Board of Trustees Officer. Bob Thayer welcomed the audience in the boardroom and the audience watching online to the first workshop of the new school year. He spoke of the Trustees’ goal to see excellence in every classroom in ECISD and he thanked the district’s leadership for the work they are doing to make excellence the standard. He emphasized the school board’s desire to see parents and our community engaged in meaningful ways, helping to improve our students’ achievement.

 

5.      There was no public comment.  

 

6.      Board Policy

A.      Trustees discussed TASB Board Policy Update 125. The Texas Association of School Boards (TASB) regularly sends recommended updates to school districts keeping local policies aligned with changes in legal policy. You can see all of the polices (6A-6D) and recommendations at https://meetings.boardbook.org/Public/Agenda/1406?meeting=697727.  

B.      Trustees discussed revisions to board policy EFB (Local): Instructional Resources: Library Materials. This is based on Senate Bill 13 and changes to how library materials are selected and challenged. The District will continue to use the existing library materials advisory committee; the role of the school board in approving adoption/acquisition of new library materials is the biggest change.

C.      Trustees discussed revisions to board policy FD (Local): Admissions. This is a minor change, clarifying that ECISD does not permit homeschooled students to participate in curricular or extracurricular activities including UIL activities.

D.     Trustees discussed revisions to board policy FNCE (Local): Student Conduct: Personal Telecommunications/Electronic Devices. This goes along with House Bill 1481 and the ban on the students’ use of personal electronic devices. The ECISD Code of Conduct will address student consequences for not following this new rule.

 

7.      Bond Discussion

A.     Trustees discussed the preliminary 2023 Bond financing plan. ECISD’s financial advisor, BOK Financial Securities guided Trustees through the continuation of the Bond 2023 financing plan, specifically the final bond installment from the 2023 election. BOKFS stipulates selling these fixed rate bonds provides the lowest cost of funds needed for the remaining bond projects while also qualifying for additional hold harmless funding from the State pursuant to newly enacted legislation. The 2023 Bond Program is projected to be fully implemented with no tax rate increase and below the original cost of future bond payments communicated to voters. 

BOKFS lauded ECISD’s active management of its outstanding debt; since 2007 more than $53 million of direct savings for taxpayers has been achieved with prepayments and refinancing. ECISD maintains independent bond ratings of “Aa3” by Moody’s Investors Service and “A+” by S&P Global Ratings, both very attractive to investors. 

As with the bond sales completed in 2024, interested ECISD residents and local businesses will be given top “priority” to receive bonds before other institutional investors in the national capital markets. The District’s Unlimited Tax School Building Bonds, Series 2025 will price the morning of Thursday, August 14, 2025. Interested local investors may contact Baird, as lead underwriter for the bonds, at (813) 274-7605. 

ECISD’s first round of bond sales took place in May 2024 for $179 million and the second took place in June 2024 for $99.5 million.

 

B.      Trustees voted 6-0 to authorize the issuance of up to $128,033,000 ECISD Unlimited Tax School Building Bonds, Series 2025.

 

8.      Report/Discussion Items

A.      Trustees received an update on the STAAR results for the 2024-25 school year. The presentation covered ECISD’s approach to reviewing students’ data to drive strategic actions. When looking at all tests given (grades 3 through 8 and high school End of Course exams) in all subjects, results stayed the same with 65% of students passing. Looking at Reading/English Language Arts (RLA), ECISD saw increases at 3^rd grade, 4^th grade, 7^th grade, 8^th grade, and in English I EOC. In Math, increases were seen at 3^rd grade, 4^th grade, and 8^th grade. Science increased at all three grade levels where it is tested: 5^th grade, 8^th grade, and Biology EOC. Social Studies saw a 1-point decline at both 8^th grade and in US History EOC.

        The presentation concluded with two very good news announcements – ECISD’s most recent graduation rate, for the Class of 2024, increased again to 87.8%. And the District’s CCMR score improved to 93%, which earns an ‘A’ in the accountability system. College, Career and Military Readiness (CCMR) is a measure that exists to ensure Texas students are prepared for life after high school. CCMR is a score given to each school district and each high school, and it makes up a large percentage of the school’s TEA Accountability Rating. Since 2020, ECISD’s CCMR score has steadily increased from 58% to 93% today.

 

9.      There was no closed session.

 

10.  There were no closing remarks.

 

11.  The meeting adjourned at 7:25 p.m.