The long-term rating reflects the inherent strength of the Needville Independent School District’s (the “District” or NISD) unlimited tax ad valorem payment pledge, the strong trend of growth and solid socio-economic characteristics of the tax base, and conservative budgeting practices that have supported sound reserves and liquidity. Counterbalancing these strengths is the District’s considerable capital plan through fiscal 2028, designed to meet anticipated enrollment growth, which places upward pressure on debt burden and fixed cost levels.
Proceeds of the Series 2026 Bonds (the “Bonds”) will be used (i) to fund capital improvements and additions to school facilities and equipment, including the purchase of necessary sites for the new school facilities, (ii) to economically refund certain outstanding obligations of the District, and (iii) to pay the costs of issuance. Approximately two-thirds of Bond proceeds, or approximately $40 million, will be used for capex with…
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