Aledo ISD Bond 2019 Update
July 24, 2020
Meetings and updates may look a little different these days, but the COVID-19 closure hasn’t slowed the progress of the 2019 Aledo ISD Bond Program.
Aledo ISD Director of Construction and Facilities Tyler Boswell and his team have moved meetings to WebEx to continue following social distancing protocols, but they’re still following the timelines set forth to get all projects complete by the fall of 2022.
“We have a really great team of people to help make sure these online meetings work and are efficient so we can continue to make progress on all of our Bond 2019 projects,” Boswell said. “We are excited to have new furniture at Coder, Stuard and McCall, and we are hoping to start moving dirt for Elementary #6 in the next month.”
It’s been a busy few months.
Bonds Sold at Extremely Low Rate
The Aledo ISD Board of Trustees approved the sale of the $149,950,000 in 2019 Bonds in their entirety in late January because of near-historically low interest rates.
COVID-19 uncertainties in early March made the market volatile, and the district waited until the market stabilized to sell its bonds at an interest rate of 2.73% on Monday, May 18. Not only did the market recover but it also returned to levels lower than when the Board of Trustees approved the sale in January. Aledo ISD’s final rate was 0.51% below the estimated interest rate of 3.24% previously communicated to the Board of Trustees in January – a savings of $16,963,692 to the district and its taxpayers.
During the bond sale process, the district’s AA bond rating was affirmed by both S&P and Fitch. These rating agencies lauded the district for having very strong reserves and for having proactive and conservative budgeting practices, among other strengths.
The first deliverable for the Aledo ISD Bond 2019 project is the classroom furniture ordered for Coder, Stuard and McCall elementaries. That furniture, $1.8 million of the Bond 2019 program, has been delivered, assembled and moved into classrooms as of late July. This easy-to-move furniture will offer flexibility for these elementary campuses as the district works to try to maintain some social distancing for students as they return to school after the COVID-19 closures.
View pictures of the new furniture here.
Elementary #6 Bidding Open
BTC, Aledo ISD’s construction manager for Elementary #6, is accepting subcontractor bids for all applicable scopes of work. Bids must be submitted prior to 2 p.m. on Wednesday, July 29, 2020 via email to estimating@BTCbuilds.com. Access project documents by visiting the bidding page on BTC’s website: https://btcbuilds.com/bidding/.
Elementary #6, which will open in August 2021, will be located on West FM 5 across from Annetta Cemetery. Click here for more information on Elementary #6.
Board of Trustees Update
In the monthly Bond 2019 update to the Board of Trustees in July, Boswell reviewed every Bond 2019 project, as all are running concurrently although on different schedules.
Both the Aledo Middle School renovation and new Middle School #2 are in the design phase, and the conversion of McAnally Intermediate into an elementary school and the conversion of Vandagriff Elementary into an early childhood center are about to begin the schematic design phase.
Review the 2019 Bond update slides here.