Austin Chamber Board supports $454 million Leander ISD Bond

Austin Chamber Board supports $454M Leander ISD Bond

Posted By Greater Austin Chamber | Sep 29, 2017
Press Releases Print Article Austin Chamber Board supports $454 million Leander ISD Bond

The Greater Austin Chamber Board of Directors expressed their support of the Leander Independent School District’s $454.4 million bond package to address the growth and safety needs of students.

The bond proposal, if approved by voters, will allow the Leander school district to construct four new schools, improve safety and security, and funding for the district’s future projected growth. Since Leander’s last bond election in 2007, the district grew by 11,828 students. The school district is expected to grow by 1,200 new students annually.

The proposed bond should not increase the current tax rate and is based upon conservative growth projections. Property taxes will remain steady at $1.51 per $100 valuation and are frozen for qualifying residents ages 65 and older who have filed a homestead exemption.

The Greater Austin Chamber Board of Directors supported the bond based on the following criteria:

  • Improvements without tax rate increase: The bond proposal will authorize the Leander Independent school district to borrow $454.4 million to build additional schools, make improvements to existing campuses, and enhance safety of new and existing facilities while maintaining the existing bond tax rate.
     
  • Mindful of current and future growth: Through a Bond Advisory Committee co-chaired by Greater Austin Chamber board member Shaun Cranston, the Leander school board approved the construction of four new schools and funding to plan for projected growth in the immediate future.
     
  • Due diligence: The Chamber’s Education Council met with the Leander bond leadership to review the bond proposal prior to the Austin ISD Board of Trustees final deliberation. No major issues were unresolved regarding the overall composition of the bond packet.
     
  • Strengthened financial stewardship: The Leander ISD Board of Trustees has changed the debt profile for the district. The debt profile was a key factor resulting in Standard and Poor’s upgrade of LISD to an “AA” rating with a stable outlook.
     
  • Creditable academic partner: Dr. Dan Troxell has been a regional leader in our efforts to improve direct college enrollment and career readiness. He currently serves on the Chamber’s DTC70 Executive Committee and co-chairs on the DTC70 Communications Taskforce with Dr. Paul Cruz.

The bond election will be held November 7. For a complete list of projects, click here
 

# # #

About the Greater Austin Chamber

The Greater Austin Chamber of Commerce focuses on how the Austin Region works. We serve as the voice of business for 2,800 organizations representing a combined workforce of about 330,000 employees throughout Central Texas. Our mission is to provide leadership that facilitates the creation of a prosperous economy and effective advocacy for members. For more information, please visit AustinChamber.com.

Media Inquiries:

Luke Sheffield, Public Relations Manager
Austin Chamber of Commerce
512.322.5637
lsheffield@austinchamber.com

Greater Austin Chamber

The Greater Austin Chamber of Commerce focuses on how the Austin Region works. We serve as the voice of business for 2,800 organizations representing a combined workforce of about 330,000 employees throughout Central Texas. Our mission is to provide leadership that facilitates the creation of a prosperous regional economy and effective advocacy for members.