December bond sale brings in more revenue than expected

DALLAS — December’s Dallas School District bond sale brought in more revenue than expected.

The bond sale of approximately $7.3 million in bonds generated a little more than $7.9 million in revenue for the district, according to a report from Piper Jaffray & Co., the firm that assisted the district with the bond sale. That provides about $600,000 in additional proceeds for maintenance projects.

When passed by voters, the eight-year, $17 million bond was designated to be spent on maintenance on district buildings.

Taxpayers will pay $1.45 per $1,000 in assessed value on property on the bond in the current tax year. Voters were told the bond would cost no more than $1.74 per $1,000 when it was approved in November 2014.

The cost will increase to $1.74 per $1,000 in 2019 through 2022 and fall to 67 cents per $1,000 in 2023 and 2024, according to Piper Jaffray.

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