The Rio Grande City CISD Board of Trustees voted Tuesday to call for a bond election in May 2020.
Superintendent Vilma Garza said the bond will likely be for around $35 million.
“We’re estimating $35 million, but we’re also going to have conversations about other facilities, but we are just in the initial stage,” she said.
The bond would fund construction of a building project in La Grulla, Garza said. If passed, the funds would go toward construction of a new Grulla Middle School.
“That is one of our oldest campuses we have, which looks like a complex with different buildings,” she said about the old campus. “It’s in desperate need of a new facility.”
According to Garza, there are several issues with the school’s facilities, including problems with its cooling system.
“It’s too old to even invest in remodeling or upgrading,” she said.
Diana Robles-Mendez, chief financial officer for the district, said the district’s current interest and sinking rate is around 31 cents.
“If the bonds are successful and we do elect to go with them, we would be seeing an increase at about (.0159) cents, and that’s if we go for a 30-year maturity bond,” Robles-Mendez said. “The following subsequent years, we’re looking at about 2 cents more from then on, if things remain constant in the district.”
The four board members present for the vote on the bond election all voted in favor of the bond election.
“We’re just excited to have a new facility for our students in La Grulla area,” Superintendent Garza said. “They well-deserve it; it’s long overdue.”