BOND PROJECT UPDATES
On May 7, 2022, Klein ISD voters made district history as they approved $895,350,000 million in bond funding to benefit every student and school in Klein ISD.
Proposition A – PASSED
Proposition B – PASSED
Proposition C – NOT PASSED
Proposition D – NOT PASSED
BOND PLANNING PROCESS
Klein ISD referendum planning process was managed by a diverse, 100-community member Bond Steering Committee.
This bond program is the result of our Klein ISD community coming together to assess the District’s facilities, technology, safety and security, fine arts, and athletics. Our Bond Steering Committee of parents, grandparents, teachers, staff and business and community leaders from across the school district should be commended for their thoughtful and comprehensive work in bringing recommendations forward to benefit our Klein ISD students, staff, families, and community.
As we look to the future in this District that I’ve been a part of since I was a student in Klein ISD, it is our hope that these efforts meet the expectations of the Klein ISD community of teachers, parents, grandparents, and taxpayers.
As part of the district’s ongoing management of finances and facilities, the Klein ISD Board of Trustees commissioned a Bond Steering Committee in November 2021 to develop a long-term capital program. Their goal was to make sure every student in every school has access to modern classrooms, academic programs, educational tools and resources.
The committee of almost 100 parents, grandparents, teachers, staff and business and community leaders from across Klein ISD, and directed by a professional facilitator, reviewed financial data, current curriculum and projected student growth and toured existing campuses. After months of extensive study, the committee developed a comprehensive bond recommendation to reflect the wishes of the Klein ISD community and its taxpayers.
FISCAL MANAGEMENT HIGHLIGHTS
- Klein ISD has recently saved taxpayers over $70 million through five separate bond refinancing opportunities.
- Bond interest rates are near all-time lows in the 42-year history of the Bond Buyer Index.
- Bonds are authorized by voters and are sold in increments over time as needed to fund the projects.
- State law allows for bonds to be financed for up to 40 years. However, Klein ISD’s repayment schedules are matched up with the useful life of the assets being constructed or purchased. Klein ISD generally limits the maximum term to 30 years.
- Klein ISD maintains high credit ratings from bond-rating agencies. Klein ISD’s bonds are currently rated AA from S&P Global Ratings and Aa1 from Moody’s.
- Klein ISD has received the highest rating available, Superior, from the state’s Financial Integrity Rating System and achieved an ‘A’ district accountability rating from the Texas Education Agency.