HUTTO, Texas — The Hutto Independent School District announced today that it will issue approximately $145,040,000 Unlimited Tax School Building Bonds.
Proceeds from the bonds will be used to finance five projects, including development of new Hutto ISD facilities and reconstruction of existing infrastructure and technology. Interested investors will have the opportunity to purchase the bonds, which are expected to be issued on Aug. 8, 2023.
These bonds and their public offering come after Hutto ISD’s voters approved all three ballot propositions during the 2023 Bond Election held on May 6. In all, voters authorized the District to issue $522 million in bonds to address the impact a rapidly increasing enrollment has on Hutto ISD’s facilities.
The new bonds, which carry an “Aaa” rating by S&P Global, will have maturities from 2024 to 2053 and will be sold in increments of $5,000. Interest on the bonds is excluded from gross income tax for federal income tax purposes and is not an item of tax preference for federal alternative minimum tax purposes. In addition, interest on the bonds is excluded from taxable income for Texas income tax purposes.
“We are thrilled to offer the Hutto community the opportunity to both support and invest in our school district,” said Dr. Celina Estrada Thomas, Superintendent of Hutto ISD. “The bonds will greatly enhance our campuses and technology to better serve our students, faculty and staff for the future.”
Multiple firms are serving as underwriters for the offering and will have access to the bonds. Individuals who are interested in purchasing the bonds can access the Preliminary Official Statement via this link and contacting a financial advisor at any of the firms listed below: