Rockwall ISD Board of Trustees Special Meeting Summary

Board Hears Plans for Unity Teams under Better Together

ROCKWALL, TX (September 8, 2020) During the Superintendent Update to the Board of Trustees, Dr. John Villarreal announced the development of Unity Teams as an extension of the Better Together mindset. The Unity Teams fall in line under the District’s 2018 Strategic Plan, which states, ‘We will ensure a safe and civil environment that is responsive to the needs of our diverse community.’ Under the direction of Dr. Kelvin Stroy, Chief of Student Services, campus principals, staff and students from the high schools will comprise the Unity Teams. The Unity Teams will meet in October.

Bond Refunding Results in Savings for Taxpayers

Superintendent Dr. John Villarreal and David Carter, Senior Chief Financial Officer, presented an update to the Board of Trustees regarding a recent bond refunding transaction and a summary of all bond refunding transactions for the past 5-years. At their July 20^th monthly Board meeting, the Trustees approved an order authorizing the sale and issuance of bonds through a parameter bond refunding. The 2020 refunding resulted in a savings of 19.45% or a total interest savings of $40,842,904. Carter announced in total, for the past 5-years, the District’s portfolio refunding program has resulted in $90,453,816 in taxpayer savings.

“We are proud of our Board of Trustees for their fiduciary oversight and support to participate in a refunding program that yields such a tremendous saving for our taxpayers, including cutting interest rates by more than half,” said Dr. John Villarreal. (See chart above for a breakdown of the refunding by year)

Rockwall Central Appraisal District Representative Presents Plan

Kevin Passons, Chief Appraiser for the Rockwall Central Appraisal District, presented a plan to construct a 15,100 square feet addition to the existing appraisal office and renovate the present appraisal office. The plan’s cost is approximately $3,350,000 and will consist of building additions, update of existing space, and extension of the current parking lot. A 20-year loan would fund the project. Rockwall ISD is the largest – by the percentage of the tax levy – of any taxing entity located within Rockwall County, Texas. Therefore, Rockwall ISD would fund the largest portion of the proposed construction cost at approximately $134,097 a year. After discussing the request, the Board of Trustees approved tabling the agenda item until the Board’s monthly meeting on September 21.

Submitted press release, edited for publication in Blue Ribbon News.

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