SAISD Finalizes $397M Bond Sale, Launches Oversight Committee

SAN ANGELO, TX — San Angelo ISD has completed the sale of its $397 million school building bonds and is forming a citizen-led Bond Oversight Committee to ensure transparency and accountability throughout the construction process.

During Monday night’s board meeting, Deputy Superintendent Dr. Merl Brandon reported that the bonds were officially sold July 15. Though the district was authorized to issue $397 million, the final sale totaled just over $385 million due to bond buyers paying premiums—meaning SAISD will receive the full $397 million for projects but only repay $385 million in principal.

Brandon noted that Fitch retained the district’s AA+ bond rating and said selling the full $397 million before Sept. 1 would save taxpayers “approximately 80 million in interest.”

Board members viewed a breakdown of the bond sale and discussed how the district was able to lock in a true interest cost of 4.8%, well below the board’s 5.75% threshold. Dr. Brandon added that financial advisors based their projections on a conservative growth rate, but early figures show significantly higher growth in 2025 and 2026, which could allow the board to lower the INS tax rate in future years.

Superintendent Dr. Chris Moran also announced the creation of a Bond Oversight Committee, which will consist of members from the district’s prior Facility Advisory Committee and other community stakeholders.

“Our goal is to be transparent, build trust and manage our bond funds responsibly,” Dr. Moran said. He added that the oversight committee is intended “to dispel any misunderstandings and misconceptions … and make sure that we are able to present information to our citizens and gain feedback from them.”

The oversight group will meet quarterly, with the first meeting expected in October. The committee will not have decision-making authority but will receive regular updates and be invited to walk-throughs of construction sites.

No board action was required for either item.