The district recently saved over $1 million in interest by paying off a portion of the 2006 bond referendum years ahead of schedule. The district has also implemented debt management strategies that have saved our taxpayers $35 million. It’s these kinds of proactive moves on behalf of our taxpayers that has earned MISD a “Superior Achievement” for twelve consecutive years in the Financial Integrity Rating System of Texas (FIRST).
In August 2016, the Board authorized payment of $2.445 million to pay off the 2007 bond referendum approving the construction of the agricultural science facility. Interest savings to MISD tax payers totaled $1.2 million. Similarly, in August 2016, the Board authorized a pre-payment of $990,000 toward the 2011 bond referendum approving the construction of a second-high school, a seventh elementary school and additions to the Frank Seale Middle School. Interest savings to MISD tax payers totaled $1.3 million.