Austin Chamber Endorses Leander ISD $454.4M Bond Proposal

LEANDER, TX — The Greater Austin board of directors on Monday expressed support for a $454.4 million bond package being proposed by the Leander Independent School District to address growth and students' needs.

If approved by voters, the bond proposal will allow the school district to build 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, chamber officials noted. At its current pace, the school district is expected to grow by 1,200 new students annually, officials added.

The proposed bond should not increase the current tax rate and is based upon conservative growth projections, according to officials. 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, officials added.

The board trustees said they 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 $454.5 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. 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 is scheduled to take place Nov. 7. For a complete list of projects, click here.

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