WOODWAY, Texas (KXXV) — “The situation at Midway ISD, it just had been patchwork and band aid and duct tape for way too many years, and it was past time,” said Midway ISD parent Scott Bland.
The $148 million 2019 bond helped Midway ISD build new schools and renovate current campuses.
But the cost of the work was completed under budget, leaving the district with $6.2 million to use on other projects.
“We spent about $1.5 million on safety upgrades, including some of the equipment that we needed to be able to start the midway police department,” said Midway ISD superintendent of schools Chris Allen.
“The security aspect of the buildings was very out of date before we passed the bond,” Bland said.
“We don’t have situations like before, where you can walk around the school and find doors that were just sort of cocked open or the locks were broken.”
The left-over bond money is being used to update lighting around the district, add inclusive playgrounds to each elementary school and update video management systems.
The savings are possible because the Midway school board agreed to pay off some of the district’s bond debt ahead of schedule, saving millions in taxpayer dollars.
“The district uses excess tax collections to pay off parts of our bonded debt early,” said Assistant Superintendent for Finance, Wesley Brooks.
“By being able to pay down debt on bonds early, what it does is reduce the amount that we have to pay in terms of interest.”
Brooks says the strategy used is pretty common, but leaves a big impact.
“Because we’ve done four defeasances in 2019 2020, 2023, and 2024 and it said net savings of $2.9 million,” Brooks said.
“Just positions us to be able to take care of students in a way that reduces the financial pressure on parents and business owners who are in our community,” Allen said.
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