Programming for New Elementary School Underway
After working with staff and the administration to develop the "vision" for the new elementary school, the design team is moving forward with programming. During programming, all spaces are sized and defined within the new building. Site development plans are established. Things like access and egress are defined. A summary of the programming and conceptual design will be presented to the Board in January.
Board Approves LHS Design Development
At the December 15, 2014 meeting of the Board of Trustees, members were presented with and approved the final Design Development for the additions and renovations to Lockhart High School. A copy of the presentation can be accessed through the following link.
Board Approves Interior Finishes
At their December 15, 2014 meeting, the Board of Trustees were presented with and approved interior design finishes. Various color schemes and materials were shared with the Board, including natural stone, wood, metal and brick. The following renderings illustrate proposed interior designs.
LISD Receives PSF Certificate
Through the Bond Guarantee Program, the Texas Permanent School Fund is pledged to guarantee bonds issued by Texas school districts thus enhancing their credit rating. Bonds issued under the Bond Guarantee Program are rated AAA, thus allowing participating school districts to borrow at a lower cost. Lockhart ISD recently received its certificate. This guaranteed enabled LISD to sell bonds at a much lower interest rate than planned. As a result, the tax impact is also lower. Please refer to the related headline below.
Board Adopts Lower Tax Rate than Projected
Prior to the bond election, the District projected the interest rates on the bonds at 4.38%. Based on that assumed rate, the maximum tax rate increase was estimated at $0.3228/$100 in taxable value. The District was able to actually issue the bonds at an average interest rate of 3.859%. As a result, the Board adopted an increase of $0.2496/$100 in taxable value. This means the monthly impact to the average home value in Lockhart ISD of $89,793 will be $18.68/mo rather than the $24.15/mo projected. The chart below reflects the revised monthly impact to various home values based on actual average interest rate on the bonds.
|Net Taxable Value After Exemptions||$50,000||$75,000||$89,793||$100,000||$150,000||$200,000|
|Maximum Estimated Monthly Tax Increase||$10.40||$15.60||$18.68||$20.80||$31.20||$41.60|