NISD School Notes: September 9th
NISD Bond Refundings Save District $38 million
Recently, Northwest ISD Financial Services Administration completed the second of two bond refundings to save NISD taxpayers over $38 million dollars in payments. The administration worked with the district’s financial advisor, First Southwest Company, to bring a parameter order authorizing the issuance of bonds for a Tax Exempt Advance Refunding of Series 2005, 2008, 2009, and 2010 bonds that would lower the interest cost to the district and its taxpayers.
So what is a bond refunding? In a way, a bond refunding is similar to refinancing a home. The borrower is taking advantage of lower interest rates than what existed when the original loan was executed. The district has conducted two refundings in 2015 and reduced district debt payments by $38,158,351.
- 01/26/15 Series 2015 $15,395,575 debt payment savings
- 07/30/15 Series 2015A $22,762,776 debt payment savings
Since district debt payments are funded by local property tax dollars, this means the savings are passed on to our taxpayers. The ability to conduct bond refundings has a special meaning. “First, it is an indication the Board of Trustees and administration take seriously District Strategic Goal V: Northwest ISD will invest resources to ensure that students, parents, and the community receive optimal educational services,” said NISD CFO, Jon Graswich. “Secondly, all bond transactions are independently rated. Per Fitch ratings, ‘Management’s sound and proactive fiscal practices have historically enabled annual operating surpluses despite a trend of rapid enrollment growth.’ ”
Providing all students with a premier education and preparing them to be successful, productive citizens while being fiscally responsible with taxpayer funds has always been first and foremost in the minds of Northwest ISD administration.
Five NISD Students Participate in Lone Star Leadership Academy
Five Northwest ISD students were selected among the 952 fourth through eighth graders to participate in Education in Action’s 2015 Lone Star Leadership Academy camp. The following Northwest ISD students were selected based on demonstrated academic success and leadership ability, an educator recommendation and involvement in school/community activities:
Hatfield Elementary, Carlie Baker
Hatfield Elementary, Emma Hook
Granger Elementary, Emma Whitlow
Roanoke Elementary, Michael Gehrig
Roanoke Elementary, Winter Wright
The Lone Star Leadership Academy experience provides a unique opportunity for outstanding students to learn about Texas leaders and what it means to be from the Lone Star State. Participants discuss what they learn, complete problem solving and decision-making simulations, exercise creativity, and practice presentation skills in Leadership Groups. In addition, participants have fun meeting other outstanding students and making new friends while adding to their resume of academic achievements, developing leadership skills, and bringing home a wealth of information to supplement what they are learning in school.
NISD Offers Gold Card Program
To show appreciation for years of support, Northwest ISD provides senior citizens living in the district the opportunity to be part of the district’s Gold Card program. In addition to a free annual luncheon, Gold Card members receive free entry into district-sponsored events, performances, and athletic competitions. If you are 65 years of age or older, become a member of the NISD Gold Card program today. To join, please call 817-215-0175.
NISD School Board Meetings
The Northwest ISD Board of Trustees will meet on Monday, September 14 and Monday, September 28 at 7 p.m. at the NISD Administration Building (2001 Texan Drive, Fort Worth, 76177).
Speeding to Read Kickoff, September 29 at Texas Motor Speedway
Three NISD elementary schools, Beck Elementary, Peterson Elementary and Sendera Ranch Elementary, will participate in the Speeding to Read challenge, along with several other schools from area districts. The Kickoff event will begin at 10:30 a.m. on Tuesday, September 29, at Texas Motor Speedway, 3545 Lone Star Circle (corner of I-35W and Highway 114) in Fort Worth.
I Love NISD Campaign
To show your support and secure your “I Love NISD” package, visit www.northwestef.org, or call the NEF office at 817-215-0173. With your purchase you will receive a 12”x18” yard sign, decal, and t-shirt. Your donation will benefit the Northwest Education Foundation and the Northwest Council of the PTAs. With your $40 purchase you will be showing your support and pride in NISD, and also helping provide critical resources to ensure that every NISD student has the opportunity to be future-ready.
PHOTO CAPTION [Justin Mayor]: Justin Mayor Greg Scott loves NISD! Did you know that Justin was one of the original towns to join with other area towns to form Northwest ISD back in 1949?