NISD approves plans for $50M in savings
District comes in under budget on 2010 bond
SAN ANTONIO - The Northside Independent School District board of trustees approved plans Tuesday evening on how to spend roughly $50 million it saved on 2010 bond projects.
That bond was approved for $535 million.
“We had very, very competitive bids and a very competitive building market over the last 3 or 4 years. The bond interest rates came in incredibly low,” said NISD spokesperson Pascual Gonzales, adding how rare an opportunity this kind of surplus is.
The board voted to use the $50 million to build a new elementary school and district-wide gym. Exact locations for those projects have not been named.
Also Tuesday, the board discussed the possibility of a 2014 school bond. No dollar amount has been decided or an election called, but the new elementary school and gym projects would be removed from the 2014 bond since NISD already has the money to fund them.
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