When the Alvord ISD trustees meet this Thursday evening, they are expected to give their approval to the issuance of up to $1.8 million in time warrants and maintenance tax notes.
That debt, which does not require voter approval, will be repaid over the next 15 or 20 years with regular maintenance and operations funds – around $85,000 a year.
The money will be used to pave parking lots and driveways around the middle school and high school at an estimated cost of $950,000. It will also provide funding for two school buses – one of which has already been ordered – and pay for a laundry list of needed items from security upgrades, vehicles, HVAC units and cafeteria freezers to the PA system at the football field.
The parking lot work is expected to be done this summer while school is out.
In their March 2 meeting, the board voted to transfer $131,626 from its fund balance to purchase one school bus at $91,136, pay for $32,185 worth of labor and materials for security work at the elementary campus and provide $8,305 in materials for a security system at the administration office.
The district’s reserve fund will be reimbursed the full amount once the funding from the maintenance tax notes comes in.
The details of the debt and repayment will be reviewed at Thursday’s meeting, which begins at 6 p.m. at the administration building, 100 Mosley Lane.
Other items on the agenda include considering which engineering firm to use on the parking lot project, as well as personnel and contract recommendations.
The meeting is open to the public.