Behind the Deal: Boerne ISD
The Need
Boerne ISD is a Fast Growth school district in central Texas that was looking to finance new educational and ancillary facilities as well as renovate some aging facilities. They wanted a debt management plan that provides for the lowest cost of borrowing, the flexibility to meet capital needs, and the capacity to manage its tax rate.
The Solution
Baird’s Public Finance team offered several ideas for the district to reduce the cost of borrowing and manage its tax rate. In its first transaction with Boerne ISD, Baird added variable-rate bonds to the debt strategy to give the district more flexibility and control.
The Baird Difference
Baird’s San Antonio banking team includes three former Texas ISD Chief Financial Officers with a combined experience of more than 90 years in 10 different school districts, including Fast Growth districts. One of our bankers had previously worked with Boerne ISD’s current CFO at Northside ISD, where they gained experience in meeting funding issues like those now facing Boerne ISD.
Building on that deep familiarity with both Texas public school districts and innovative means of financing, we were able to devise a solution that addressed all of Boerne ISD’s needs. In addition, we set up a Pricing Day for the district’s students so they could learn more about how finance works.
We are always looking for opportunities to provide our students hands-on experience to help give them the tools they need to succeed at the next level. This is a great opportunity for them to experience a bond sale first-hand, which can give them a look at potential career opportunities.
Wesley Scott, Boerne ISD
